However, you need to really investigate to confirm that the property and tenants are performing as expected.Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).

OK, lecture over.Don’t do anything that could create unenforceable loan documents.

If you do exchange messages with the tenant there may also be other documentation to back this up for example a message from your tenant saying something like "Since I'm the only tenant its a little harder now, but I will have the rest of the rent on Friday".

Letters to investors are not governing documents—whether you are required to fulfill this capital call depends on the language in the operating agreement, so I’d start there.

All of which are well documented on the forums.

The lender will ask to review all of your LLC documents so you want to make sure that are complete and ready to go.

Generally, reporting companies must provide four pieces of information about each beneficial owner:name;date of birth;address; andthe identifying number and issuer from either a non-expired U.S. driver’s license, a non-expired U.S. passport, or a non-expired identification document issued by a State (including a U.S. territory or possession), local government, or Indian tribe.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

This question is asked a lot and there's a ton of value by just reading those previous conversations.In short, there are pros and cons to the program, all of which are well documented on the forums.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.