Like I said, it's our side hustle (we both have full time professional jobs and a houseful of kids), but we do the management ourselves. 

In the past I've told my siblings they should use this same strategy (for their college-attending kids) but it hasn't yet been done. 

Additionally if it's a really good deal I would hurry up and get my offer in and worry about the violations later.

I will (hopefully) have two houses ready to rent in the next two months that will need tenants, and will also be looking for additional property to purchase.

Additionally if you find this post helpful please give it a vote on the right hand side of this post.

@Carter Crowley Thanks for the additional info!

It seems to me that the tenant should reimburse the landlord for the $150 fee that the court charges (in Maui, at least) to file the eviction suit and probably any additional court costs and lawyers fees as well.. but I haven't been able to confirm this.

Another option is to go interest only from a private source at 7%, same 1M loan on the asset, highly flexible and no additional fees as we have already got the construction loan in place on title.Currently leaning toward the private option, it could,  based on flexibility, allow me to improve my balance sheet and down the road approaching other lenders to get more of a residential type product given the property has 3 titles, rather than pursuing a blanket type loan through the commercial office.Downsides of the private loan include the interest only payments don't allow me to amortize the building, and the rate is higher.  

Mine was Mother , wife and kids.

@James Miller Yes, I know you have to use the available section for additions or add an addendum to the base form to make a series LLC from the standard form to file with the state.