Because you are self servicing your loans most are not legally compliant with consumer protection laws and CFPB requirements such as sending statements on a monthly basis that have all the language the CFPB requires as well as each state may have additional requirements for sending out just a simple statement.

However, in my case, you'll be thankful they are well drafted so that Attorney can then protect your capital through default and perhaps foreclosure.  

You still need to avoid doing anything that makes it seem like you’re being discriminatory especially against protected classes.

This protects you from potential scams.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

The one big hesitation we have is that it seems like you can not deed the title into an LLC (for asset protection).

Reinforce entry points with security bars, and consider a monitored alarm system or joining a local neighborhood watch for extra protection.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

.- Insurance: Short-term rental insurance (beyond renters') can protect you from guest-related risks.- Licensing or Permits: Check if your area requires permits, as some cities have fees for short-term rental operators.Breakeven Analysis: To calculate your breakeven occupancy rate, add all monthly expenses (rent, utilities, cleaning, insurance, etc.).

Since I have damage protection waiver in place I feel more comfortable asking for a smaller deposit.