I've factored in Taxes, Insurance, Cleaning, Snow/Lawn, Turn over.Your expenses are missing a few things: Maintenance, Vacancy, Capital Expenditures, Utilities During Vacancy, Legal/Accounting, etc.

You would need to know there bank account, were they are working, or something else you could legally go after.

I don't know your area, or legalities with basement dwelling, so I can't comment on that any further than, is it legal, is it permitted?

My agent had to threaten legal action against their agent to get my EM back.

The drawback is that the seller is going through a divorce settlement and legally can't sell the property until things are finalized in November.

If you are leasing your own properties there are no tax advantages to using an LLC or corporation though there may be legal and asset protection reasons to use them.If you are flipping, managing properties for others, wholesaling or developing you may have tax advantages to using one or more various business entities.

Usually one or two phone calls is enough.If you don't have those contacts yet there are much easier, more professional, and legal ways to find your local cash buyers.

Even if there are no negative legal ramifications using the PM's document, proving the tenants signed off on the condition of the alarms in the event there is an issue could be a big plus.

It's 100% legal and not state-specific.

Can anyone direct me towards someone who can answer some specific questions about land leases, specifically, tax and legal considerations?