As soon a the "we found mold" card gets played, you immediately offer them to vacate with no penalty to insure their safety. 

The rental property itself provides the tax benefits and not necessarily the entity structure.Depreciation should wipe out your cash-flow from being taxed, especially given the high prices of properties right now.You should have your tax returns reviewed if your properties are reporting positive taxable income.

Like others have mentioned, you will pay structurally more for a home warranty than self-insuring for the cost of repairs.This may be worth it if the value proposition was that you could be hands-off whenever a covered item breaks.In reality, it adds significant overhead because there is the claims process and you give up control of the repair timeline and quality as you have discovered.

Unless the seller/lender is added to title as a joint tenant, which would be downright stupid, the only other way they are “getting the property back” after the death of the buyer/borrower would be to foreclose and be the high bidder at the auction.

That way you have someone that can step in, perhaps a sister, or a brother or some one like that who is responsible enough to handle this highly valuable asset portfolio that you have.

Im super well versed in the insurance side of things but not the investment property process -- i would love to connect with anyone who needs help with insurance and can help me start out too :)  Do you offer commercial insurance for STR in PA?

I knew this property would be in high demand.

You might be able to find some materials online but you gamble on the quality.In my case this is what I follow:- Construction material locally so we quickly can resupply - Flooring locally (I find better prices and service this way)- Plumbing locally (I bought online for my first remo and quality was really bad) locally are more expensive but I don't gamble anymore as plumbing is something that is always a time constraints to complete and continue other works.- Electronic fixtures like fans, etc online.

He will finance building the house. this can be done however you want -  my recommendation where I see things go wrong is everyone is high and drinking the kool aid when they go into these deals thinking they are going to be making all this money.

All offers to buy/sell should be posted in the Real Estate Classifieds.