All you have to know is how to buy something at the right price so that it pays for itself.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

The down-payment and closing cost shouldn't be that high for him to pay by himself.

I like the benefits of S-Corp, however we wont be paying ourselves a salary.

@Brandon ElliottIt does not make sense to get 12% and pay 10% as you will lose money after taxes….To answer the question about private lending - most do it because they are tired landlords and not necessarily due to funds they have but wanting to be more passiveI would want $250k as many of the lower dollar loans are very risky

Just curious, would you pay for a Driving for Dollars list in your desired zipcode or a boots-on-the-ground person?

It would be rental property to my parents and I would pay a 60% market rental rate and I would also pay the loan.

When the lease comes up for renewal, fix it then; but honestly a good tenant shouldn't care what it says and pay on the 1st.

Because of language in a "homemade" lease the landlord had to pay back all the rent they have received over the entire tenancy.

A little background - I'm a nurse and have been hoping to find a market that pays decent when compared to the cost of living and also has high prospects for growth.