Is there anything I can do to prevent loosing the house?

And I, personally, want nothing in a cage that I would be terrified to find loose in my home at turnover, so for me, I stick to just a well-trained family dog.

Don't borrow OR lend too much if you don't want to loose your ***(ets).That being said - as you stated, the borrower will borrow up to the nose and more if allowed, regarding the general public.Nobody looks at their own credit score and says to themselves, "I dont want to borrow that money because my FICO is too low which means my risk of defaulting is high."

., I should have an excess of 100k.

- You could also put fixed things into the rent (internet, cable TV, monthly "minimum" water bill) and bill separately for excess usage- Or you can state the rent covers $$ for each utility, but any excess use will be billed to tenant.

Even if it's a non-profit the person has to put limits with their time on helping people learn the business so they can grow their own.This is why I like BP.People can log on at their leisure and learn something new everyday.No driving,no meal costs,no excessive drain on time for the day,no hard sell,etc.I or anyone else can post great information on here and tons can read it with new people everyday.

Secondly, what if there are no excess repairs, now you offered more than you are willing to pay.

., high turnover, bad tenants, excessive maintenance, owner paid utilities) or why your initial investment might be higher than you think.If you're willing to manage the property yourself and not take a salary, you can drop that 50% to 40% or so.

There are loose-lay vinyls out now, I know Lowe's has some, last time I checked they were $1.27 per SF.

I am contemplating to make a loan from my solo 401k to a friend.The loan will be secured by the property.I would be interested in a word of wisdom on how it is properly done to avoid trouble with IRS and/or loosing tax exempt status of the funds.What paperwork is sufficient?