I bought a lease option a couple years back.I signed a lease with the owner that gave me full authority - and full responsibility - for the property.

So it's a bit of a chicken and egg problem, but this is why "new agent 101" is to have agents tell everyone they know about the fact that they are now an agent.Lastly, if you do direct marketing to sellers for the primary purpose of buying their house, and you get responses but the selling is asking too much, you can try to convert those people to listings (along the lines of maybe, "I can help you in multiple ways", one by buying myself, another by listing if you prefer a higher price but a longer wait, etc.).Good luck and let us know how it goes of course!

If the property manager is also responsible for leasing units and dealing with calls from tenants, it could be good experience.

NY wants to put the burden on owners/landlords to be "parents' of the tenants, and take the responsibility for housing evicted tenants or those with other challenges off the plate of the state/local governments.It's ok. 

You better put this in place before you get in trouble and get sued, after...no point in closing the barn doors after the horses escaped.An LLC is a legal concept, with no tax advantage - you can have it treated as a disregarded entity for tax purposes, or a S-corp or C-corp (but you don't want to hold real estate in an S-corp or C-corp).If available to you, you should look into Series-LLC for the asset holding entity.

Other people have already answered this, and I haven't read all the responses so I might repeat something, but I'd say #1 makes the most sense if paying cash upfront will get you the deal or a better deal than if you leveraged upfront.

You can perhaps add the business as a cosigner if needed, but ultimately you want the family on the lease because they are living there and if the employee gets fired, they are the ones responsible for rent. it is irrelevant to you who the rent comes from. if it was a company renting so they can put up different contractors they have to fly in and different people will be living there at different times, that would be a different setup.

We hold tenants responsible for the actions of their guests as well.

Keep the duty to pay rent separate from repair issues.This is not a situation that warrants anything more than a quick response to repair the problem. 

You should anticipate paying more may be close to 500K for estimating purpose.