That is a recipe for disaster, and if it gets around there are hundreds of people that will provide him compelling ways to lose it all in "good" investments.Alas, financial self-education is something that is hard-won and severely lacking in this country.  

However, the potential long-term rent is about the same as our mortgage, meaning we’d lose money when factoring in repairs and maintenance.3.

When she gets hit with a vacancy, she panics because she loses the income.

I am about to lose my mind. 

It should have a good spread to ensure you're not losing money in the long run.

@Brady Hales @Jason Marino, aren't you supposed to register this WY LLC in the state you are living in as it is considered doing business from that states and then losing the anonymity purpose of that WY. my understanding is that the reason to put it into a irrevocable trust is for asset protection purpose as you do not own these properties anymore. what am I missing ?

Regardless, the person with the umbrella policy has no big concern and should not lose a wink of sleep.  

But, if 0.25-0.50% more in rate for a DSCR loan is "breaking" your deal, then you are already losing as it is.My two cents.Cheers!

Or she loses her job and can't pay the mortgage and she's dating a loser junky now and they expect you to pay the mortgage...

Worst case is hard to predict of course but I guess you end up losing the place or paying them a lot of money as in cash for keys.How would you handle maintenance?