Part of me thinks it is unnecessary due to the safety and culture of the neighborhood but at the same time, I am aware that it is opening me up for the possibility of a lawsuit. 

If your end goal is to learn how to analyze deals, then I found it very helpful to do practice deals over and over again in a notebook that I had kept. 

We are creating an LLC, and I wanted to find out if anyone has done this (an LLC with people who aren't familiar with each other) and could recommend some best practices for forming the group and any essential language for our operating agreement. 

Having tenants take care over unit's own garbage are good in theory but a horrible nightmare in practice.

In practice, the effect of tax savings is usually not included because it can be complicated to calculate.- IRR (Internal Rate of Return) can be used to measure the net return generated by ALL FOUR sources (i.e.

Is there any good practices you could suggest?

And the downside is you visit a wonderful new country and learn about a new culture;) Recently I've bought property in markets where the local currency is heavily devalued against the dollar.  

In my state, the coursework could not be done on line.Real Estate Express was still recommended for their exam prep which consisted of a series of on line exams to practice.

Elaborate on tricky phases and best practices.

I think your best bet is to talk directly with a foreclosure attorney practicing in the state.