Amber, the state department of finance, generally the higher agency has departments under them, insurance department, real estate, dept. of banking supervision, finance companies.

I want to make sure we don't make any major mistakes on our first rental property.

I am new so bare with me; first actual post.I am looking to invest in multifamily properties located in a major city adjacent to a major college. 

It didn't "change my life" but it did change my thought process about a lot of things, especially in the finance department.

After a few years of successful operations, you can look to banks' commercial lending department for future loans. 

You might even want to see if the person staying will be assuming full responsibility for any of the damages rather than splitting that up - you might even find that all damages were caused by the departing person and they both agree that the full payment for damages should come from  that share. 

What major  replacements are necessary?

I once went to the heavily barricaded (Clearly post-Terminator I https://youtu.be/kYt2HmAxHL4 ) police department for a property I was doing due diligence on and they were happy to tell me that the subject property 'only' averaged 20 calls a month!

I decided the shrink was right and I made some major changes in my life, including a divorce and - more recently - I parted ways with my employer.  

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