In the event a lease could not be presented we asked for same proof of payment to establish rent amount if that was disputed.

For example, a builder will construct a retail establishment for an owner, and the builder will receive a percentage of the gross receipts for a specific period of time.

Foreclosing after 2 years isn't the easiest and is a gamble.  

I already consulted with them and they can help, but this certainly wouldn't help establishing good relationships with this neighbor. 

That level of comfort came from establishing a great team to protect my investment.

@Huy Thai, in my state once the tax basis is established for the year, it seems to apply for that year unchanged.

I  try to establish good repore with my tenants who know that my inspections, which are sometimes more of a greeting "Are there any problems with the rentals I should know about etc.

I am not employed at the moment, although my wife earns mid 60s and we have 660'ish credit scores with a BK7 on record 2 years ago.I live in South Florida, near Fort Lauderdale in Davie and established a non-profit a few years ago with intent to rehab/flip houses or possibly build on vacant land given by a local city top develop on.Aside from that, I am hoping to meet someone form the area who has been "down this road before" and would maybe be willing to at a minimum have lunch with me to give me some professional advice.Anyhow, nice to "meet" everyone!

I am fully licensed in both my Life and Health as well as Fire and Casualty, and I think it would be good to be able to use them.I'm wondering if anyone could point me in the direction of an insurance group that specializes in real estate investing, in the state of California.I am aware of National Real Estate Insurance Group out of Kansas City, and they are a fantastic company, but they're not interested in establishing agents in California as of now.Also, any advice in terms of which insurance works best for rehabbers and why?

I hope some established investors can join us and share their wisdom, but if not, all of us beginners will get to compare notes on our journey into REI!