Get EVERYTHING in writing.

This is fantastic Austin!

There's likely going to be a limit of 1-2 foster children, depending on age, sex, and relationship.I don't think you need to worry about anything.

In this case you are the customer so it's even easier.Knowing you, I'm sure that you got everything above in writing, so you will be fine.

Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)

This is an important consideration in most LL decisions, LTR or STR.

(A partnership tax return is due March 15th, so in this instance, the partnership return will need to be extended).2.

This year, I became a private/hard money lender in 45 out of 50 states.I see you have wonderful goals.

you have someone with very little means borrowing your 5k Em ( which is a rare EM in most markets) and even if they get it back chances are you not going to get them to pay U a dime of interest they will just go to the next gater lender.

This is a common tactic used by tenants that just want to move.