I would focus on the liability side of insurance and you may even get supplemental umbrella insurance to safeguard your liability. - Yes, you should do your own background verification of the Tenant, do no rely on ANY background verification, credit reports, etc. provided to you by the Tenant directly or a background verification conducted by another company with no connection to you - different companies focus on different things when conducting verifications - you will be focused on qualifying this person for housing not a new job, which is completely different. - For furniture/other items: Make an inventory list and have the Tenant sign it before moving in.- Yes, you should include all these items in the Lease; You should not accept anything less than a one (1) month deposit, it is your security.

I have issued the command – and I'll have anybody who utters but one word of criticism executed by a firing squad – that our war aim does not consist in reaching certain lines, but in the physical destruction of the enemy.

Supplement that with rental income from properties as is, which is about 24K a year cash flow.OR....

*If* there's a huge profit, your best route is probably: play your cards close, stay on nicety-nice with your "partner", get the thing finished, sold, and closed, cash and split the check, and have your lawyer ready to serve them with a breach of contract lawsuit, then aim for a quick settlement. 

I prefer to work for myself, so my primary income source is a small business that I own, and to supplement that I have a W2 job part time. 

We originally had a position locked in that would keep us in Colorado, but it was pulled off our AIM marketplace during the mid cycle review. 

If you're aiming for a certain ARV, make the house look like comps at that ARV.

I had an acquaintance ask me if I could have my GC who worked on my home, do work for him, and that made me wonder if that is something I could do to supplement my income.

Your aim to pay off the property in 10 year or even 15 years is unrealistic, at least if you expect to pay it off from cash flow.If, on the other hand, you invest in properties that do perform, you can actually get them paid off with a 15-year financing, especially if you're not planning to consume any of the cash flow they might produce and feed it into the financing.Just to be clear, I am not recommending paying off the houses you purchase, but if you really feel you need to, investing in well-performing proteins, instead of a location where you know you will not get good performance.I'll be happy to help if you like

Hello BiggerPockets Community,My college roommate and I recently decided to invest in rental properties as a source of supplemental income and hope to grow expand our portfolio over the next 20-30 years.We are looking for an accountant in West Virginia that specializes in real estate to help us set up an LLC, file taxes, and a few other things.