But if the sh*t hits the fan, and the operating agreement doesn't serve your needs, you'll wish things had been different.UNDERSTANDING PROCEDURESEven with all the paperwork in order, you can get in trouble if you don't understand how to do things the right way.

If you can become and expert in this realm, some people will gladly pay you a lot for your expertise.If I were in your shoes, I'd probably get with an accounting firm that handles a lot of investment real estate - just to get a feel for the tax laws, and how you can apply them to the benefit other investors (or to your own investments).

Another thing you can do to minimize your time involved is take out stuff that breaks down....garbage disposals, ceiling fans, etc and have them supply the washer and dryer.

I'm a big fan of the area.

:Do ceiling fans break that often?

That said, here's what I would do, If I were in your shoes.

A common mistake putting notes in with the basket of property ownership, they are wto different worlds, once in the lender's shoes, always in the lender's shoes.

First, I’m the biggest fan in the world of SD retirement plans and have written about them here frequently.

Totally changes the relationship...Big fan of Dave Ramsey!!!..

I am also a fan of the BP podcasts.