I have not been in your shoes or his and cannot say for certain that I would be able to look past the annoyance and avoid waiting out of spite in that kind of scenario, though I hope I can when it becomes time!

If I was in your shoes, having to depend on personal funds, I'd structure a separate loan from you to the LLC, and have the LLC pay down that loan, instead of making personal loan payments on your behalf.

I make them initial the clauses that deal with utilities, loud parties, basement storage, trash removal, damage, and the clause that tells them they are required to continue paying the lease even if they move out before the lease term ends.  

It's not as if you sit down with a shoe box of files anymore and go over your situation. 

There is a potential to build additional rental units (I'd estimate two identical buildings of 6 units each) or something else like storage units, etc.FinancialsMonthly income of $3,620 = $3,570 ($595 rent x 6 units) + ~$50 (coin operated laundry)  - Currently, 100% occupied without any room to raise rent as it's already near the top of the marketMonthly expenses of $2,299 = $405 (electric) + $70 (gas) + $56 (water/sewer) + $50 (trash) + $250 (taxes, see below) + $273 (insurance, what they currently pay) + $362 (10% property management fee) + $362 (10% capex reserve) + $181 (5% maintenance/repairs) + $290 (8% vacancy, see below)  - Taxes were $1,332 last year, but that was before all of the remodel so I'm estimating a future tax increase based off of the taxes I saw on other MFHs in the same town.- Property management: my uncle offered to PM the property for free for 12 months, and then said that it would be 10% of gross rents.

I was wondering if you can give me your opinion on this ad I will put on Craigslist and Zillow:Title: Walking Distance Fox School District -Walking distance to Fox School District.2 Bedroom, 1.5 Baths, Full Basement, w/d hook ups, plenty of storage, carport parking, Fully updated throughout, both bedrooms are large, with big closets and new carpet, both bathrooms updated, Eat In Kitchen is updated, freshly painted through out unit.

Roomates can be fun, but it can also turn best friends i to mortal enemies.If I were in your shoes I would buy the rental property.  

If you are concerned about rumors then you will always be concerned about the other shoe dropping throughout the entirety of your investing career and if that is the case there are safer places to put your money.  

If I were in your shoes, my wife would want the garage and I would want the unit... 

We tell all people that they can only use the basement for laundry and storage because with the rental licensing that is what the city told us because there are no egress-sized windows down there.