It's the landlord's job to write a lease with terms that protect their asset and it's the tenant's job to enter in a contract that they can abide by.

Hello BP forum -I'd love to hear how other landlords approach asset protection as it relates to your rental properties.

Take care with the "events of withdrawal"of members, even a one member, as some, if not stated, will take effect by law.Pay attention to the segregation of funds and assets.

Amber,Your whole post is irrelevant because you are saying THE SELLER is telling you what the bank said.If you believe the seller is relaying all correct info from the lender you are headed for a disaster.Get the ATR (authorization to release info form) signed by the seller and give ALL LIEN HOLDERS on title a copy.Now you have the ability to talk to the lender or servicer directly and get 100% of the information you need.

That is the only way to verify any income they have from the business, unless they have a CPA who can supply a certification of income (but the CPA probably did the tax returns anyway).Application isn't processed until it is "complete" - all needed paperwork in hand, and SIGNATURES on permission and authorization forms.

Most applications have this authorization on them.

I have $30k in cash, $55 in liquid assets (stocks) and about $75k in illiquid (retirement accounts).I am currently renting an apartment.

One of my favorite authors on real estate investing is William Nickerson, who's first book was written over 50 years ago.

If somebody else is going to be doing the asset management and property management, it may be ok to never see the property as long as you trust the operator you're working with.If you are going to invest in it on your own, I think you need to see it!

The reason I’m asking is there is an authority regulation utility that you need to get in contact with and file a complaint.It would also be time to get a complete copy of the water departments agreement and read it inside and out or find a lawyer that has already fought them over a close issue.With a chain saw, air shovel, and some good clippers I'm sure I could get to it in a few hours of work.