I generally don't allow pets.  

What I didn’t know at the time is that we were in violation of occupancy laws (ignorance was bliss on that one, thankfully we never got reported for having more than the allowable number of people living in the house).

Also, do I need a business license to form an LLC  company?

Be good with your numbers, those are: ARV (based on comps), repair costs and MAO which will allow you to squeeze in your cut in the assignment of the contract.

(unless there's pet damage...that's a different story)2) Ideally you'll want a property management system that allows tenants to submit maintenance requests through an online portal.

but yes its a common business practice in many arenas. 

While I’m happy to share lots of information with folks it’s very rare that I will give out information like my primary contractor’s name or the names of any of his subs because I keep them busy full time and am not willing to lose my own time with them to someone else.

The goal here was to allow the borrower to build-up cash reserves to get his operations stabilized and the assets in a position to be refinanced.

It also allows me and my wife to take a small owners draw each December which is helpful during the holidays to afford Christmas presents.

Would your job allow a move like that?