I would make sure they are both up-to-date on repairs and mechanicals before investing in a third asset that could have repairs come due all at the same time as your others.

It is when a tenant and landlord put in writing factual information about them renting and both parties sign.

Material participation isn't just a box to check; it requires active involvement in the day-to-day management of your properties and meticulous time logs of not only the investor’s time but also other parties (like the PM company) activity.Navigating Short-Term Rental Tax Strategy:So, how can you avoid the same fate as Jackson?

Generally most of us aren't going to go through the guilty party's profile and take down everything that qualifies because it takes a lot of time and effort, and most threads have an extremely short shelf life - no one is going to remember it or see it a couple of days from now.

I've worked for a few direct lenders and theres a reason the cream of the crop become brokers; half of W2 employee LO's have no idea what they are doing...If I'm buying a property, I want a good quarterback directing me through the process, not a third string who is lucky to see the light of day.

Now in the third generation most of us don't do it because there's a separation in what my immediate family values, and what the extended family values.

Any deposit should by held by a third party in escrow.

Im looking at a property that has two legal units and a third that is not.

CAFEFULLY used, sub to and seller financing can be good for both parties. 

While you can't create limitations against their lease and legal rights they have for quiet enjoyment, things like keeping common areas free of clutter or routine maintenance items that are tenant responsibility can often be added to help keep the expectations on both parties clear.