@Nicholas AjaThe easiest way is to make sure you’re both on the deed and mortgage, by default in doing this the laws offer a lot of base level protection for the both of you such as disposition on death, etc.The next level would be to draft an operating agreement up between you both through a lawyer.Another layer of protection is to require your tenants to have renters insurance so they would use that before they go after you personally.The biggest single layer of protection though is communication and to make sure you’re on the same page with timeline, goals, expectations, work schedules, and budgets.Good luck!

Its micro managing at a level that is deleterious to operating an out of state rental.

When comparing PM rates you gotta compare apples to apples and determine what service level you want.

They make THE worst guests.I also believe if you’re hanging out with people that want to stay in one of your properties at a discount it’s time to level up your friends 😂Past guests -I don’t have an issue with giving a couple bucks off but it’s been ages since Ive needed to.... they don’t ask.

What is your experience level?

most commercial loans have covenants that require certain equity.. the borrower to maintain a certain net worth and the DSCR maintain a certain level.. you right last 10 years most props meet all those requirements.. its when they dont that things start to happen.. there was a TONNE of Cash calls last go around..

I'm good at what I do, but I don't know that I'm at Teaching-A-Class level quite yet, so that's likely a little further down the line.I'm dying to hear your opinions, especially you veterans out there!

The owner has been working on chasing leaks and now has the water bill down to a semi reasonable level. 

This company appears to be holding themselves out as a direct lender, and in order to be a lender at the level they claim in California, they would need to be licensed. 

A lot of high level brokers do indeed look down on the little guy that doesn’t have a firm but it is crap and we all know it.I would find an excellent RE agent who does commercial in your area and connect with them.