If you don't have any proof of the condition of the home before the tenant moved in, you'll be hard pressed to even hold on to the deposit for damages. 

I am a very new "accidental landlord" and after a lot of research we just recently used EZlandlordforms.com for our lease agreement and supplementary addendums.  

@Claire Fenton @Mark Nolan -> Im very interested in option you mention as my primary concern around SD IRA is the prohibited transactions and the potential for an accidental issue/oversight.  

I recommending starting to play the BP podcasts while you're in the car and you'll accidentally learn a ton. :)

There are tons of "accidental landlords" around MAFB from folks who bought homes and are underwater when they leave.

MOST people would be hard pressed to pack their belongings, find a new place to live, pay new deposits and physically move for less than $900.  

What if we accidentally at one point use our personal checking account to pay for something as opposed to running it through the operating LLC? 

Doesn't work the same way as a normal seller which has a pressing need to get their money.4.

Hot lead is a someone who has sent PFS to show they have capability to buy, willing to sign an exclusive agreement to commit to 1 broker or agent, and have a pressing reason to sell (1031 exchange, capital needs to get put to work right away, etc.)As a principal commercial broker I am the company so get to keep what I make minus my company expenses but most brokerages do not have that structure as they are the larger firms mainly focused on listing volume and not a buyers specialist.Good luck  

Appraisers are usually hard pressed to give someone a huge boost in value over their previous purchase price when they know the owner is trying to force equity- so you did well!