The first being - don't bring your friends or family into the mix :)Since it sounds like you're pretty solidified in your friend moving in, and it could be a good first roomie, so just to get your feet wet... i'll double down on Laura's advice - do a lease, for the legalities, but i also highly recommend some sort of written (we call it a) Room Mate Agreement.

If things go truly south, you may as well invest in dry goods, it will be worth more.Cryptocurrency is not regulated at this point, until then it provides a free way for anyone to move money between countries tax free; convert illegal gains from criminal enterprises, legally hide business profits as it's not recognized as money...

They’ll handle setting up your legal entity and obtaining your EIN (Employer Identification Number).

selling notes do not have to get permission from the payor on the note to be legal nor do they have to notify but its common to notify so you know where to send your payment.

It really helps to speak to someone at the agency because they often will give you recommendations on how to do what you want to do legally.

Being novices in the game we do not have the legal or business background to know where to begin on accepting funds.

In Metro Detroit area, police will not remove these types of occupants (they are afraid of scamming landlord having police remove legal tenants), calling them a "civil matter" forcing landlord to start court eviction process.

There are too many ways that owning a house with an ex can get messy.

Is there a legal limit on how many rental units/tenants we could have on one single family lot?

Do not rely on it for legal advice.