We don't want to change their rent/basic terms, but we'd like them to sign our lease as theirs is a bare bones affair that doesn't address a number of fine points we like to have covered.

We don't want to change their rent/basic terms, but we'd like them to sign our lease, as theirs is a bare-bones affair that doesn't address a number of fine points we like to have covered.

Hello Bigger pockets, I've been lurking here for a little while, I've read a few of the books, and multiple other books and I know I'll be starting a real estate investing career in the near future, I'm only waiting to settle up my affairs, and lower my debt load before investing.

Thus asset protection was not being achieved.So what I started to do is put each new property into its own LLC and I transferred 20 or so properties out of my "main" LLC into their own LLCs.It was a relatively simple affair.

(not including between your out of state affairs) that it took for you to complete, and was your estimate for rehab accurate?

That's a common structure; however it can be Overkill. you are fairly protected by negligence since you can't actively handle most affairs of the property.

Lol that's actually inadvertently my fault as a result of the Joe Pickett  affair a couple of years back.

If you contact the County Coroner (died outside a hospital or nursing home) or the Funeral Director they should be able to put you in touch with the next of kin, Executor of the estate, or an Attorney handling their affairs.

If my child became incapacitated, first thing I would do is get his finances in order, check his mail ocassionally for a mortgage statement to be sure I was  taking care of his affairs?

The second is the borrower's ability to file bankruptcy, which can turn the entire affair into an expensive legal exercise.