Plus, business bank accounts can be used to verify the legitimacy of your business when it comes time to apply for a business credit card or a business loan.Helps with your asset's performance -- Keeping separate finances gives you a clearer picture of how your business is performing.

Background/credit check, call their last two landlords, call their employer (to verify income and to ask about performance), and make your standards very clear.

Project management is another discusion but  it is a large indirect factor into why low income properties perform poorly. 

A license is required if there is a way for the buyer to vacate an option-to-purchase contract, and the individual begins performing real estate functions such as marketing the subject property, bringing in a buyer, etc.

There is always risk in non performing notes, borrower could file BK.

He performs a ton a searches for me both on the investing side and retail side.

This just sounds like it defeats the whole purpose of having a business entity and the need, both for legal and accounting reasons, for operations to be performed within the business. 

By nature I'm not a systematic thinker, but I know I perform at my highest and enjoy having systems and structure.

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

For instance, most of the time my properties have always been much better performers in the maintenance department than the numbers at BP would lead me to believe.