.- Hubby naturally follows pregnant wife back to the 1br apartment (good daddy).- Re-remediates mold stuff (turns out the sellers hired a shoddy/cheap outfit to do the work originally). - So we have 3 separate sets of documentation that ties this all up: seller disclosures, appraisal, and the paperwork from this re-remediation. - By this point wifey is in the tail end of her 3rd trimester, obviously no one is moving anywhere at this point except onto a hospital bed once in labor.- They rent out House A to cover the mortgage, 12 month lease. - Wife has baby, apartment too small, no fault evictions in Oakland are a pain in the butt.- They purchased another home with an owner occupant loan and 5% down a few months after closing on their first, about a half mile away (job transfer to other side of the country = that exception is granted on a routine basis, it being the exact same neighborhood makes this unusual).- Underwriter would have been within reason to ask for a birth certificate to line the date of that up with the rest, but in this case elected not to.Note the unusual circumstances surrounding this.

There might be a legal reason to create an LLC for asset protection - which is something to discuss with an attorney.With or without an LLC, you will need at least two insurance products: one (or more) to protect you from acts of nature such as fires, floods etc., and the other to protect you from liability claims against you, called general liability or umbrella liability insurance.

There would need to be a purchase agreement for the sale of the LLC that reflects the 1031 and the single member/single asset nature of the LLC. 

If you don't have a rich relative, the nature of this project requires a complex solution.   

It's making sure that the contract itself is airtight, contains the right contingencies to protect your liability as well as the other parties liability, contains procedures on what to do if one party breaks the contract, etc....  

How long is the eviction procedure in your location? 

When landlords drive prices up, and folks who work hard can't afford to buy houses in their own neighborhoods, it's natural to wish the landlords would stop doing that.

I would say that from my perspective as not only an investor that owns properties but an owner of a property management company. the one thing that you need to realize is landlords are the highest sued in real estate as  a matter of fact 1 out of 3 landlords are in some form of lawsuit or litigation every year for violating laws such as (IRS, Discrimination, Fair Housing, Fair credit reporting act, property code ) all governing bodies that protect and regulate rights for both tenants and owners.As owner of a rental property you are running a business, and need to have policies, procedures and structure.

Which generally means not letting things slide, having policies and procedures and enforcing them consistently across tenants.For example, if rent is due on the 1st, then late fee notice goes out on the 6th (assuming that's what you have in your leases, a 5 day grace period), then if still not received, 5-day demand letter goes out on the 17th.

Contractors in this state if they know what they are doing have from what I see around the country the best ability to get paid.. unlike other states were the liens just go on record in time.. and can be wiped out by foreclosure sales etc.Then if a contractor in Oregon messed up on the lien procedures they can then sue for unjust enrichment..