Work with an attorney to ensure that your interests are protected, and that the agreement aligns with your long-term goals.

They are a custodian, charge a flat with no fees, and provide free audit protection.

FlashlightTape measure/Laser measurePaper/Pen/iPadBinocularsReceptacle testerLevelMarbleDroneRespirator/Face Mask/Eye Protection/GlovesAQI testerWater pressure gaugeThermal cameraEndoscope cameraKnifeI bought over 20 houses in my lifetime and I’ve never taken more than a flashlight. 

As for the property structure, using an LLC offers liability protection, while a land trust provides privacy.

A great agent will help walk you through the process from start to finish and the home inspector is there to protect you in regards to the condition of the home.

@Marc Zak Using an LLC for each property provides strong liability protection by isolating risks to individual assets, with income and expenses flowing through to your personal taxes on Schedule E.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Roadside Tree Protection Plan.I was told I will also have to get  stamped and sealed architectural plans of the 6 unit building.

From real estate investors to other small businesses, I talk to people daily who have no idea about the potential liability under the Telephone Consumer Protection Act ("TCPA")(47 U.S.C. 227 et seq.).There are two initial issues that can create huge problems with your suggestion.

If for some reason they can't get this sorted out by the next payment date, you should figure out how to physically escrow that payment somewhere...this at least protects your payment until you're confident who it is supposed to go to in the future.