From my research and speaking with other investors who have done this, an attorney should be involved to form a JV or partnership of sort.

I am speaking from experience when I say it is super stressful to share your home with a free loader. 

I can't speak to this specific program but there tends to be a common theme with all of these programs.They are traveling the country  up selling coaching and other things.

If you are interested in speaking, please connect and send me your email address.

Currently looking to speak with Investor Friendly:RE AgentRE AttorneyEscrow Company familiar with and willing to do double closesGeneral ContractorsPortfolio LenderOf course I will be doing my own due diligence in the meantime, but I would love to hear what fellow local investors have to say.

I don't know about tenant/landlord laws in Connecticut, but you may want to take that into account too.The odds of your tenant fighting a small charge for the carpet--slim, but every dealing you have with a tenant builds a public image of you (not to mention speaks to your character).If the carpet is only a year old, then I, personally, would charge them replacement cost... any older than that, and it would be a depreciated replacement cost.The fact that you were going to replace the carpet (though it may speak to the carpets age) wouldn't directly have any influence in my decision to dock the security deposit.

If a deal goes wonky and Don speaks from years of experience the first thing an attorney writing you a nasty gram is going to say is you sold a security without a license..

I would also speak with a few people on BP's who loan their own money in Florida, because there may be laws or rules that you need to watch out for in your area.  

The trustee is trying to sell it.Need to speak to my Title rep, but also not sure why it can't be an insured sale.

Generally speaking, an LLC limits your personal liability and protects your personal assets, but every state has different laws, so you should consult local counsel for the best form.