If you don't have the background in these regulations or relevant experience, ideally you'd want to find a partner who does or take the time to learn it or even take some exams to get the certifications yourself.

.- 8/13 - The landlord calls me to introduce himself and asks us to fill out an application for a credit check and background check.

@Mo FarrajIf possible, you want to do a credit / background check on the partner.You just met the guy in a networking event.

Of course you have to be careful to run credit and background checks on potential buyers. 

Having a background in the trades definitely won't hurt you!

To give a little background I recently took a 5/20 year balloon loan (if I understand correctly) where the loan amortizes at the rate of a 20 year loan but after 5 years the balance of the loan is due. 

With your background in ecomm, you might be able to turn your skillset to that business with relative ease.

Don't trust that to someone who doesn't have the financial background or expertise to oversee a financial investment.  

When we get to the point of checking background and financials, we ask the tenants to pay the full $40 each for a SmartMove screening.

However, you want to make sure you are adequately prepared to screen tenants by checking background and credit history etc. as well as have a lock solid lease agreement to help protect you.