Here is ALE's response and list of questions:Its for a local family that had a fire to their home.The family (2 adults, 3 children, 1 dog) will be the ones to view the property, apply, sign the lease, and put down the security deposit just like any other tenant.The only part that is different is our company will be sending the checks each month to pay for the rent, so the rent is guaranteed to be there on time each month.We just need to send all the information to the insurance company first to review before we can have the family come view the property.Once the insurance company reviews it, the family will call you directly to set up a showing and to apply.You are free to interview them and ask any questions and then decide if you are comfortable renting to them.If interested, can you get me the information below please?

This inspire me and my wife since we decided to start doing real estate to be able to dedicate at some point more quality time to our lovely childrens.

Without being number specific, my goal is to generate sufficient passive income to eliminate all weekend overtime at my W2 job. 3 year goal- Private school for my three children. 

Has anybody ever heard of a landlord losing everything he owns including his primary residence where his children are raised and his family getting kicked to the street because they didn't install a banister correctly or there was a fire because of an outlet was not wired properly?!  

Note that there's also the concept of a series LLC which gives you one parent LLC and multiple children; from what I know the protection of the children being segregated individually vs collectively has not been tested in court however?

His request was that we put in a playset of some kind for the children in the community.

Children under 18 should not be allowed to play without supervision. 

We have NFL, NBA, WNBA, tons of shopping, NCAA headquarters, Indianapolis 500, Brickyard 400, the world's largest children's museum, and so much more.

We interacted with both families in a open, honest, friendly manner and demonstrated respectful communication, which I think was important for the children to see.

Drove to the house to see what condition it's in, and it's in pretty rough shape, so there's definitely a chance that his children might want to sell it without having to fix it up.However, I'm stuck when it comes to what the next steps are.