As an active investor I “work” a note or “create” high yielding investments of notes, and as a passive investor I invest in my note fund and syndications under the same terms offered our investors. 

Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

There are new laws being implememented in some states as well.Hey Ken, I agree with you on people doing business the wrong way, just like in the creative side with people not properly disclosing how liable the seller is in a sub-to transaction.There are indeed people promoting a property instead of the contract, which they do not have the right to do so.

Only contracts totaling $500 or more are required to be reported.

However, I want to ensure that my rental contract is comprehensive and protects both my interests and those of my tenants.I'd greatly appreciate any advice or tips on what to include in a medium-term rental contract.

It would be best while working with the lender prior to getting into contract on the property to do a soft credit pull. 

Can you keep some of the properties you get under contract?

George Loveless , in terms of any special taxes, there is something called Regional Income Tax Agency in the NE part of the state.

I’m also in San Antonio and I am a property manager for short and mid-term rentals.

Once you find and contract a house, make sure you have it inspected.