The very reason for a generic rule of thumb.LOL Thought Id post my expense averages over the years and remind folks that a 10% PM fee is way too low at least until occupied and stabilized.

I can still maintain my profession as an attorney because for the most part I have hired staff and set processes up that don't require me to be part of the day to day operations.

Being that we both have individual assets to protect, an LLC would seem like a no-brainer, except for the fact that setting up an LLC would rule out conventional loan sources. 

Hopefully he has also seen you deliver at work, and your willingness to roll up your sleeves and take on a task, without hesitation.many potential investors show up at meetups but fail to follow through or even have a plan.I'd suggest you take this further by developing a business plan and goal setting. 

If you rural setting lacks a leasing agent, give it a go with the suggested $13-14 rate.

Then activity dies down, but the those later applicants are often more qualified, and have just started looking.Your price may be right or slightly high, but if you set it too low, you'll attract more unwanted interest from unqualified potentials.

@Brendon Pishny I am an asset protection attorney and we set these up all the time for clients nationwide.

He told me that he promises to sell it to me for our agreed price once he clears out his items. lease with option to buy only last so long in Texas so not an optionSo what other options do I have that will hold up in a legal setting?

Each step has its own set of challenges. 

Everything happens for a reason, so this could set you up for an amazing ride.