seperate accounts seperate check books...)Isn t just getting General liability insurance sufficient to cover your liabilities ?

It's a guaranteed rent payment on the 1st of every month from the housing authority assuming their voucher covers 100% of the rent and usually get just slightly above market rent for each unit.If you have any questions feel free to shoot me a message.

Deal with local real estate brokers who has insurance covering property management.

It's possible that you'll make mistakes which won't be covered by your insurance.Rates and all that is very last thing to think about.

And somebody told me that your net worth has to be able to cover the loan is that true ?

The only pictures it has are of the exterior and it just looks like a normal house.

However, the guy is a professional and has assets, furthermore his wife has hung pictures all over the house, I don't think he really wants to leave.

No pictures of the inside are available and no walkthroughs or inspections are permitted as it is occupied and being sold "as is".

My post wasn't so much about the obvious things to look for, those are covered everywhere, and I don't mind digging for those things as needed.

@Michael KistnerMake sure that your rental income covers your basis and you can support your living situation with the job.