So true, if it is not set up correctly.

@Brandon Sturgill We are still doing out homework in terms of lending opportunities, corporate/tax set up etc.

I now charge a start up fee to cover my time and marketing costs should I get it all the way set up and successful and then they decide to take over.

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsGood luck on everything!

Focus on your business, build success, and then use that success to purchase a property.David Green has a new book "Sold" in the BiggerPockets bookstore that shows what it takes to set up a successful business.

It is very easy to set up.

Other than that, I think it's a great time to set up a HELOC.

My email is . feel free to send me your information and we xan set up a rime to connect

Will anyone give a tutorial on how to set up the taxes ?

The liability isn't a major issue if you have the right set up and insurance.I own homes that I lease to operators of Residential Assisted Living businesses.Take a deep breath, you'll be fine if you follow what I share with you here.The RAL business, your tenant, should have professional business liability insurance.