I had to spend a few months fixing up the house before I sold it.

@Stephen Karakitsios welcome and way to be proactive about your first deal.Keep in mind, the idea of an LLC is to protect assets in the case of a lawsuit.

Great way to give back to the community just make sure you protect yourself w good lease and upfront communication (language barriers?)

@Lidia Bowers   Congratulations for thinking on your next step,  I just went to an event about RE syndication on Dallas by The Real Estate Guys, everyone there advanced to jump on 60 + units,   I am selling my SFH portfolio (also a Realtor myself)  spend some time learning about the topic  

Charge 3 to 6 months of rent up front to protect against late payments and cover you in the case you need to evict.

I am in need of some quick advice on the best way to approach this to protect both parties.

I'm one of the most visible people on the site, so many of the messages come from me.The forms you were offered are a package that we have created with the help of state-specific attorneys so that newer landlords who do need them can have a good set of documents rather than the "free" forms available online that do little to nothing to protect their interests.

I pay mortgage, taxes, insurance, repairs, management, etc.Account B: Tenant security deposit is held separate from all other funds to ensure I don't spend it.Rent income should be more than enough to cover the mortgage so why are you putting money into the account?

What do you all think spend the cash on a building or pay my only debt off first?

I don't mind leaving, but I need the funds since that's one of the main reasons why my family decided to live in rent control housing for protection.