The family member has stated that they will be paying the rent to us directly, and they have excellent credit, income and low debt.Any advice on whether I should consider the tenant?

You have some excellent questions, but I feel like I need some more information?

So even though most were on a lease it operated more like a hotel where rent was collected weekly.If you waited until the end of the month the tenant would have spent some or all of the rent money on booze, entertainment, etc.

Here is an excellent link I found that goes into great detail about the land trust.

IMO, the extra 400 for you will not only be appropriate for the type of tenant you wish to attract in that neighborhood, but will probably spare you some headache down the road on repairs because of their excellent reliability and warranty.Here's some links (I am not affiliated) WasherDryer

Excellent!

Bill, excellent reply.

Part of my hesitance to dip into Oakland, given prices today.good luck though, and be careful if you're going to take action against your tenant without excellent legal advice.

I have some property that I own and have some property that is owned by others, but I manage.I have been using Excel for management and finally feel I need RE management software and RE analysis software.

Jason, excellent post and practical applications of the SDIRA.