It really doesn't matter which one of you signs the agreement because you will both be liable for the actions of the other.

You own a business and must take on the responsibility of a management position.

Nicely done @Brian Ellis - way to stay positive throughout the whole experience.

My final updates is that the city said they would need to do drilling and add meter hardware because of the position of the main line in the culdesac, probably amounting to, say, 8k.

2nd piece is the house hack...We think best course of action would be to have an investor friend we know buy the house in cash, once we are done with renovations, we then take out a full mortgage on the house to cover whatever he paid for it and then pay him back with some interest.

I'm both new to real estate and New Orleans so we've got a lot to learn but I'm excited to be transitioning from analysis to action and jump right in.

I know some managers hire an attorney to handle all eviction actions.

As well, and assuming necessary, once done, you can advertise this upgrade and the positive resulting heating and cooling bills in future marketing when the need arises.For straight rentals (not a property sold via Lease Option, CFD, or other Owner Financing), I never pass large expenses on to my tenants (pretty much anything over $300, unless their fault), but assuming this is a defect or need that I did not see in my pre-purchase home inspection report, I will just deal with it out of my own pocket and earn a bit of positive "good landlord capital" in the process.Good luck with it!

It was a great move and I have a great equity position and cash flow using other people's money.

I am still rather young (26), but have found real estate investing much more exciting/lucrative than other investments.Since beginning my journey I have acquired 5 rental properties that are all cash flow positive.