Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Service Line coverageSome things to consider from an Insurance persective:- will the Tenants have pets. 

Require that they have renter’s insurance.No pets unless you agree in writing in advanceUse a tenant screening service to obtain a profile for your sister.Collect a security deposit that is reasonable and customary in that location.Buy a profitable long-term rental property, not necessarily a property that your sister likes.

.#2:  Make your friends equal owners in the entity and have the proper entity paperwork in place (this will be a requirement when borrowing capital from a lender)#3:  Get an EIN number for your entity#4:  Open a US Domesticated bank account for the entity and fund it, meaning exchange your money into US dollars and deposit it into the bank account#5:  Begin networking with other RE Investors (such as here on BP) or other networking groups to identify potential partners and contractors.Hope this helps and if I can be of any further help please reach out. 

Terms used to be expensive compared to domestic borrowers guaranteeing the loan.  

Are you pet friendly? 

Texas has been on the receiving end of some of the largest increases in domestic migration over the last few years, which I would definitely consider a big factor when buying real estate for long term purposes. 

You can have a no pets policy.

Some examples im thinking of add-on services that could be offered include pet walking/feeding, cleaning, laundry, carpet cleaning, and other household services.

Should I do a domestication of my LLC from Cali to Indiana?