I agree with Randy, before we even show the property we include the qualification requirements in the listing, when we talked to them on the phone we review them and ask if they need the minimums, if so then they can see the property, if want it they do background and credit check and we stick to our minimum requirements (this is what protects you for discrimination claims if you set these requirements and stick to them).

So my question is how can I protect myself if I do take charge of the apartment in the back.

I’m in central Texas and I need to know all the paperwork and steps I need to take to protect me and the property owner who is my father.

Most tennats know they can drag out a rent free situation for months otherwise.By not filing first yu are wasting valuble time in protecting your investment.Always begin th eviction before you offer a bribe otherwise they have no incentive to accept.  

Latchel diagnoses if it is an actual emergency or not, we troubleshoot with real property managers over the phone, and only send out contractors if it is required to fix the emergency.It protects you 24/7 for emergency maintenance issues and can help stop toilet overflows, burst pipes, etc from becoming severe property damage.

Implementing the SDIRA LLC + BRRRR enables me to protect their assets and provides the necessary rental income to offset the AL costs. 

IL  is a mortgage state and one frustrating place to do real estate from my perspective.only attorneys can draft the mortgages and you cannot deal with the title company direct it has to go through an attorney.. its the most protected escrow process state I have ever seen..

The idea is to get a clear picture what you are approved for, protect your stamina, and focus on the right fit.  

It is shocking how few people call me before they write an offer, not realizing the bank appraisal protects the banks money, not the purchase money.

But I did not ask if HELOCs would require seasoning, I have cash in my account that I got from selling a car and pulling from stocks at least the stocks withdraw has a history.My partner is worried about protection of his assets so we are looking to just have myself on the loan and us workout payments and dividing cash flow, we will eventually transfer the title to an LLC with both our names being split 50/50 in the company.