Agree to sign an addendum to prevent exposure to liabilityContinue to allow them to do this under the belief that the home is kept in good shape (only you could determine this)Continue you increase rents in accordance with the market (these increases don't have a significant impact of a business' bottom line whereas a traditional, long-term tenant would freak). 

If done correctly it will reduce your exposure and protect your assets.

Conventional closings are a PITA, and I can only imagine it's a nice way to get out of it.Beyond that, it's all about personal preference and risk exposure.

These might not eliminate the exposure but will reduce the liability.  

but you may have a property exposure on that.  

I have been planning to use HELOC... however I just learned about the SD IRA so I want to learn more about how to work with it as an alternative.My contractor is referring me to his neighbor who might be interested in investing ("cash provider") there is always the short term unsecured loan option; but as an option, maybe SD IRA would be beneficial so the earnings could be redeposited without tax exposure. 

I only do this with one of my properties to reduce my exposure.  

i envy your job as i assume it gives you a leg-up on exposure to real estate knowledge!

Of course, one must legitimately be self-employed with no full time employees to implement the 401(k) plan.There are workarounds for California investors in an IRA format that provide checkbook control and eliminate the use of a LLC and exposure to the California Franchise Tax Board.

There's no other good sites on the web, and no listing service with MLS that beats the exposure for commercial properties.