It would be in your best interest to definitely maintain all records of expenses as you can write them off.

The two women ended up shouting at each other and before any swinging took place I spoke up and said "the tour of this house is over".They two women both apologized but they saw the writing on the wall regarding these two families living together.Gail

The one time the bank did not pay them, I got a letter saying they were late....since then I pay them myself and I made the bank write the city and say they messed up and pay me the late fees...and the bank did.

Our team is ready to start submitting LOI's for multifamily properties, and I've had brokers offer to write this up for us. 

I typically write a detailed posting like above and place this above the description of the property when advertising on Facebook. 

You need agreement in writing from the members to allow you to act as the "general partner." 

Make your offer in writing, or at least follow up in writing so you can show a court if it comes to that. 

For scaling purposes a CPA would be good to advise you on how to legally benefit with tax write offs but also make sure you won’t run into any problems in the future.

I'm here because, like many others, I lost my job in the Insurance industry due to Covid-19 last year, and since then I've been conducting freelance (technical writing, 3D structural design) work to earn an income.

If you could convince a bank that it is worth $325k today and get a mortgage of $245 then you could write a four year lease with his full four years being paid up front (depending on laws, maybe you could even write it in a way that it is non-refundable if he decides to move early - or at least that he needs to give you 6 month notice)- then you have that cash to use for your payments and some extra that you could use for short term investments.