The most critical language is or should be in there.If your lease says they must pay for legal filings due to late rent, just notify them they have to pay the $45.

If there is any legal action against your current LLC for any of it's past actions the risk you run is that a judgment  or settlement could impact your current investments - negating the liability protection you were using it for in the first case.

If so, is it legal to rent it from him then turn around and sublet it out or no?

Security Deposit in our case is one month's rent: $2,000Upon hearing our breach-of-contract request, the PM stated, "We are holding you responsible for the full term of the lease including and not limited to all rents , collections fees, broker fees , legal fees and any fees associated with the breach of your agreement.   

I usually let student loan issues slide because they are so common (our nation's tenants are drowning in student loan debt) and I don't want to screen out otherwise good tenants, but things like missed credit card payments, missed car payments, and of course missed rent payments that get reported to the credit bureau usually require some probing questions.In your Brighton place, you can legally specify no undergrads.

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

The back unit is in bad shape (no immediate danger, but it's likely something major will break sooner rather than later) so we would like to serve notice to the back unit tenant upon closing and proceed with renovations ASAP.Can anyone recommend the letter/legal forms to use?

I was told by my security guy installer, that if I put up a sign that it's being audio recorded that itwould be legal, is that not correct?

As you grow as an REI, you can make changes to your legal structure for a cost that will not seem as significant as it does in day 1.Regards,Stephen

As for what you can do going forward, there is not much legally, but you can be creative to subtly highlight things that parents might view as negatives.