This approach will impact your flexibility as you should really be committed to these investment decisions, as I would formalize each of these decisions and have them notorized.For those of you who don't flip to live, but rather to build wealth, this is something to consider and talk to a knowledgeable tax attorney who specialize in real estate (these are rare and sadly rarely hang out in forums).Just some food for thought.

Try reaching out to your servicer first and asking them to formally ask the holder of your mortgage note for a discount.

My brother and I are partners, with me acting as the PM, and taking the fee, but we have no formal agreement on sequencing the payment. 

Indeed, I did not contractually assume any debt, formally or informally.  

Greetings - I have recently started remodeling and furnishing one of my longer-term rentals to convert to a short-term vacation rental through websites like VRBO and Air BNB. I was also interested in advertising it vi...

Then you would want a formally drafted agreement outlining percentages of capital input, workload and profit/loss splits.

Hi Jeffrey,Congratulations on completing your formal education.A) No one is going to mentor you for free.

The owner knows I have roommates but I am not allowed to formally do a sub-lease.There are a number of problems with this arrangement, and I am seeking to improve my strategy for the next house I rent:- If my roommates move out, I am legally liable to pay the lease, which can leave me on the hook for thousands of dollars each month until I find a replacement tenant.- Sometimes finding replacement roommates can take a month or two to find a good candidate.- A roommate could theoretically refuse to pay the rent, and I couldn’t kick them out because they are technically on the lease with me.- Due to the stratospheric cost of houses in the Bay Area, it probably isn’t feasible (or worthwhile) to purchase a house and then rent out extra rooms.- I have already added an item to the “tenant contract” that uses their deposit to cover 2 weeks of the room being empty should this occur.There has to be a better way to do this that decreases my risk.

You used her before & she's still being this cautious/formal?

I would definitely formalize the partnership using an LLC or S corp.