I was particularly excited because I had a full months' rent paid a month before my first mortgage payment was due, and that was going to be the start of my contingency fund.A couple of days after moving in, my tenant called me to say the bathtub wasn't draining properly.

If you can show that you are keeping proper records you probably will not have to worry about a field audit.

HOWEVER, you calm your nerves and manage your risk by doing the proper Due Diligence.

I'm not ever going to say I do things better than you, your transactions I'm sure are much cleaner and you are leaving your end buyer with a very good quality finished product.

I have a nice list of buyers that are actively buying deals every month, but no product.

Keeps you on your toes offering better, cleaner product & services to your residents.

It starts when the notice is executed and properly delivered.

Thanks, but lets sort out these questions" would have been the proper response at closing.

What product did you use for the garage floor?

I prefer a properly operated LLC (again, opinions differ) along with a solid umbrella policy.