When a borrower has no credit scores, they are generally treated as though their credit score is 620.

I would say to treat anyone on here the same way you'd treat a stranger off the street to start with.

You want to make sure you are treating everyone with ethics.

Treat them well and they will treat you very well. 

In the meantime, the best protection is to know and obey the law while treating your tenants honestly and fairly.

I own rental property in Omaha, and in a sense, I'm treating a city of five hundred thousand like a town of twenty-thousand by focusing my investing on two segments of one zip code.My father-in-law lives in a town of five thousand, and his father, at one time, owned eight houses that were occupied by the same families for three decades.

Too many times starting off I would get excited over a verbal agreement, a written purchase agreement, etc. only to have the deal fall through at numerous stages of the process (even the day before closing). 8) I've learned to be a lot more understanding of my tenants and treat them with strict rules across the board but still in a friendly way so there is mutual respect.

Anyway, you have to treat this like a business. 

You need to treat the LLC like another entity.Meanwhile, I don’t see how this is tax efficient...

Traditional LLCs are treated as disregarded entities, meaning the taxes just pass through to your personal income via a K-1.