I think you end up subsidizing the amenities for your tenants...pools, guards, gates, fitness center, etc.Way too many places I see around DFW have a ton of deferred maintenance....so make sure to check that out.....you know who gets to pay for that at some point....YOU.Rents are probably coming up....so you could get lucky. 

I've also been fortunate enough to secure an experienced mentor.

Having rental history via a schedule E in your tax returns would help, but an executed lease agreement and proof of security deposit and/or rental income received should suffice. 

At that point you get go back to marketable securities (retail garbage) and live pretty comfortably flying first class.For me its transitioning to stabilized lighter value add apartments as a LP (letting the young proven operators work for me) and NNN, and non correlated investments like infinite banking, life settlements, and IULs.

If yes, then should have known the answer.If the attorney instead specialized in securities or international law, then it is understandable that they don't know the answer.Did you pay the professional for their time?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

He has signed the lease and has initiated ACH payment for first month rent and security deposit.

Blue Spot Home Loans - They said they'd consider, “future rental income” if you secure a lease agreement AND security deposit for rental of your existing condo prior to final loan approval for the condo you will be purchasing. 

A Note doesn’t recorded, an executed Mortgage document gets recorded….otherwise the lender has no security/collateral. 

@Brendan Winans was relentless and matched my persistence, and I could not have connected with a better local agent that understood investors looking for the deal. 1 tenant got evicted during escrow, so in the 2 weeks following closing I was able to get a signed lease and received security deposit and rent for market rate.