To get the desired protection, you have to follow some rules to create a separate identity of the LLC such as maintaining it's separate book, singing all the lease in its name, and more.

Make sure they are rock solid in every way, rented, then repeat.....or steal the million and piss it away on drugs and hookers.

How do you handle disputes over common area use, stealing food from each other, taking out trash, someone that monopolizes the space, etc.?

No worries about anyone stealing it.

@Jay Hinrichs I'm sorry for stealing your Guru, but I almost wet my pants with your SNAP flip comment. 

You can't just steal a title and make yourself a lien holder.

*new roof*interior and exterior paint*new flooring*updated electrical system*opened up doorway between dinning room and living room*all new kitchen (cabinets, stainless steal appliances, granite countertops)*trendy board and batten window shuttersThe top selling points were the beautifully tiled bathrooms and kitchen backsplash.

You should look for a steal in the surrounding area (you can draw a map as you search on Zillow) or try the area in the Valley Arts section of orange, its near the campus, the price of the properties are relatively low and theres a midtown direct train there (the highland park station)

The property next door is identical but is a single family home with two less bedrooms.  

The property next door is identical but is a single family home with two less bedrooms.