I would say that the majority of my guests are travel nurses and so I know they are coming for a defined length of time.

You can do what amounts to a title search, like you would if you were buying a property.More important is the Addendum you add to the LLC when you buy it, that defines the timeline and dividing date of when you take responsibility, and when you are not responsible. 

Define your buying criteria (cash flow?

Normally I would amortize the origination costs (appraisals, origination fee, etc.) over the length of the loan but this LOC has no defined end date so just wondering how to amortize these costs or if I should just expense the entire cost this year.

Even with those types are sub sets of asset types, states cycling at different points versus nationally, different price points cycling at various times,etc.So you have to define a plan and be a visionary with what you are doing now and where you see things happening in the coming years and planning ahead.

Others will say to keep a reasonable (defined by each individual) amount of debt on your property. 

I define passive as not having to rehab, wholesale, or any activity that requires me daily to keep the machine going...so that more or less leaves buy-and-hold of some type, perhaps buying notes, maybe something else I'm not thinking of.

Daniel, yes, I would say you should account for the management fee, in our area on MF the rate is 8% and then it goes down relative to unit size, you have to consider no matter the partnership, someone will have to get paid for this whether you are the defined management or a 3rd party group - 

You just have to define your business plan, and make it work for you!

In the absence of title insurance--which is not available for a quitclaim deed--the person receiving the quitclaim deed has no legal recourse because the deed itself states that only the interest of the grantor, if any interest exists, is conveyed.Whether title insurance terminates by transferring real property depends on the type of policy and how “insured” is defined in the policy.