An Attorney will help with creating an LLC.LLC is not required, may make getting financing more difficult.It may provide some asset protection.Most of the asset protection that you need will come from the insurance policy.Discuss with the insurance agent on situations that you are not protected.Have a discussion with an attorney if your extra concerns can be protected through an LLC.

Why would he prefer a $1500/mo (150k-purchase cost) 2 BR 2 BA 1000 SF condo over a $250k 4 BR 2-3BA 2000 SF house where we rent out half and live for like $500/mo?

From what I understand, it can be a lucrative way to build wealth over time.

Be prepared to end her lease when it is over and find someone reasonable.

I’ve been mulling over the idea of moving and converting my home into a mid-term rental, but I’m in the early stages of research.

My concern.. if these big corporations are buying up a majority of houses, assuming there’s no legislation in place to stop them from doing so or sell them off, now IS the time to buy before they take everything from us over time.. it DOES seem like now or never.Regardless of recession and lay offs in the future, these big corporations will just buy more, they’ll never run out of money. and we will all have NOTHING.

Subject-To Financing:Definition: In a subject-to deal, the buyer takes over the existing mortgage payments without formally assuming the loan.

I regret driving past so many of these developments over the years and not having paid closer attention. 

Whatever you decide will be best for you - BUT - if you do re-finish the floors....MAKE SURE you do the prep & clean work....after sanding - sweep at least twice.....then tack cloth (you can make them yourself - basically a rag with mineral spirits - VERY easy) - I went over the entire floor twice - I might even suggest three times....it gets the "crap" out of the pores of the wood & lets the wood take the stain much better....and the more coats of poly, the better - but take your time - as they ALL have to dry...MAKE SURE they are dry...

I do not feel comfortable going back over there after how they acted during the inspection.Do you think they will have legal grounds to move forward with suing or rent escrow actions given the following circumstances 1) "as-is" language in the lease (pasted below); 2) nothing about smell is included on the pre-move-in inspection; and 3) the city inspector was already out and stated there was no violation?