The property may not have any vacancies, but if it does, just make sure you have enough reserves to cover that. 

I get an insurance policy for each guest so if they break anything, I feel covered.  

In this market i would only go that route if you have the resources to cover their initial investment so there would be no loss of capital if things go bad.One of the syndications that i am an LP buys MF, rehabs the existing units, converts tbe garages into max number of studios, brings all units to top of market rent, and exits with max NOI.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

He doesn't cover how you pay off the loan if you over paid by buying off the MLS, which is where he is teaching people to buy properties.

Ensure the rents and expenses support the debt service and provide solid cash flow after covering the assumable loan, seller carry payments, and operating costs.Occupancy & Rent Roll: What’s the current occupancy rate?

The scope of what you asked covers a broad area from estate planning, to tax planning and forward. 

I have been in construction/rehab/renovation most all of my life so I have that covered.  

., funding, management, deal sourcing) based on strengths.Bylaws to Include: Cover profit/loss splits, decision-making processes, buyout clauses, and what happens if the partnership ends.

Also, the quarters didn't cover the expenses, is my recollection.