Self-managing a rental property can lead to a variety of issues for inexperienced landlords, especially if they reside in a different state then the rental property.

I call it radical transparency.The last ditch cure for a DOS clause issue if to do a deed flip flop -- deed back to the borrower - show this to the bank -- deed it back to the buyer. 

Commonly, with multi-tenant buildings, there is some leakage in NNNs, even if it is things like tenant pays for maintenance contract on RTU and any repairs up to $5,000.  

I'm reaching out to share a cautionary tale based on my recent experience with a fintech bank issue involving Yotta and Synapse.

My wife is willing to co-sign on the deal and I would like to keep the property under the LLC for safety.

I know Philly safety differ from block to block. 

Hows the market for multi family's with 4 units or less?

And of course there is the usury issue to deal with when you go over 10%.Unless you're doing volume, why not just download a note & dot from Fannie/Freddie, it's a .doc file so you can make changes.  

Just like you would do with any non-family contractor working for you:- get them to complete Form W9 for you, as you will need their SSNs- have them provide receipts for materials/supplies and keep those receipts- have a written labor agreement (how much and for what) - pay for materials separately from labor- make all payments electronically rather than cash so you can trace them- pay out of your business account, not personal- issue them 1099s next year if you paid them $600 or more for labor (for the whole year, not per job): https://www.biggerpockets.com/forums/51/topics/1167632-expla... 

Investment Info:Small multi-family (2-4 units) buy & hold investment.