Hello,I recently purchased a single family home with a separate stand alone building, complete with chimney and fireplace, that will make a great studio rental (appx. 400 SF).

If the loan was recorded concurrently with a separate mortgage or deed of trust title HUD Home Equity Conversion Mortgage, that means the loan is guaranteed by the feds.

One Podio question for you - do you treat properties and sellers as separate items in Podio and just link them with a relationship?

One of course being if they are become non-compliant with the terms of the rental agreement, two if they expect any special favors or rent breaks that you would not customarily give to other tenants, and three if they can't understand your separate roles, as you are wearing multiple hats (nephew and landlord) which can significantly change the dynamics of the relationship.

I have them go to a separate folder in my email account though, so my inbox doesn't ping every 5 mins :)

@J Scott @Joel Owens so I should sell the lots separate from the church then?

even if I work with GC ...in case something happens and for some reason I am found liable because I should know about every single deficiency on my property (one of them caused a contractor to get hurt) I need to have such a coverage. for those who do not work with GC but hire out trades separately ...such an endorsement is a must ...opinions ?

Dep needs to go into a separate interest-bearing account.

Can I/should I dilute my liability and protect my properties by forming separate entity to manage my own properties?

I like the idea however of finishing the basement and renting it out for additional income since it has separate entrance.