Christian,It is not a good idea to get your legal advice from the internet.

Beyond that I would step back and stop all legal costs until I know the deal is worth fighting for.If someone else wants a bad deal that is one less investor you will need to compete with once they take this one down.

That includes taxes, insurance, vacancies, maintenance (even new, you'll have maintenance, much of it created by the tenants), legal fees, advertising, tenant screening, and who knows what else.

Assigning a contract or selling an option which you purchased is an example.There is a lot of confusion out there as to what is illegal brokerage and what is legal RE investing.

Is it legal?

You have numerous other expenses, including property management, advertising, maintenance, legal fees, utilities, vacancies, tenant screening, and who knows what else.

A company called Prepaid Legal is contracted with KROLL right now selling a monthly membership through them as well as other sorts of protection for as little as 12 dollars a month!

You want to run your business like a business.If you have to collect a few checks in your personal name so be it but like Mike said, there are tax concerns.I'm not an accountant but that money will be taxed differently than if you received that money from your corporation AFTER expenses (stamps, paper,envelops, bandit signs, advertising, gas, business cards, seminars, etc.)are paid.Amerilawyer.com offers the benefit of reduced online pricing as well as legal counsel.

If it is in yours then likely it is in theirs as well.If it doesn't say in yours then likely it's not in theirs.I can't give legal advice but rather than suffer in silence I would call the landlord and explain you have sensitive lungs and cannot be inhaling in second hand smoke.Second hand smoke is actually MORE DANGEROUS than first hand smoke.The reason is the person smoking the cigarette has a filter before inhaling in and the second hand smoker breathes all the smoke in without a filter.Today's cigarettes are pumped full of chemicals because it is cheaper to make and the burn is faster.The faster the burn the more people will smoke and buy that next pack with a huge mark up.Back in the day smoking was almost all pure tobacco but it is so expensive they use chemicals and very little tobacco today.So in short don't put up with it.

I'll do my due diligence and inquire with the lender to ensure legality before pursuing this deal.