Even though it is in an LLC, you are still personally responsible for the loan.

He will wait to get paid until you sell or refinance, You need his releaseThanks for the response Caroline.

So I'd take the hit on capital gains and be pretty happy about being free of one rental responsibility and the mortgage on my house.

Very friendly, responsive and has extensive market knowledge (mostly in the fort worth/Arlington area).

As a response to that, during our recent conversation, he said that he would invest with me up to $50,000, at 4% simple interest, for up to 10 years, with interest only payments.

This seems unlikely but just wanted to check all my boxes.If anyone has any insight or experience with any of my questions I would be very grateful to hear your response.

Thank you all for the response.

I am new to the Bigger Pockets Community, and its amazing to join an online Real Estate community that has such an active/great response rate to all forums/questions asked by everyone.

"or pay someone else to do it more efficiently"Not criticising simply pointing out that sending notices is kindergarten level landlord responsibility that every reasonably competent landlord should learn to do.Yes if someone want's to hire a demo crew to take down a curtain rod by all means do so.

Lease states, "Lesee shall be responsible for arranging for and paying for all utility services required on premises" 4.