Stagger starts, but also stagger capital sources.As volume increases, it helps to avoid relying on a single lender or capital stack.

As an FYI you "Cannot" do a reverse mortgage on an Investment property unless you live in the home or one of the units and seeing as its a condo its a no go....Any questions feel free to check out my profile and send me an email I am always happy to help investors avoid pitfalls and use loopholes to get more cash and save money.

(Property Help)Process tweaks that reduce late paymentsRequire auto pay starting on day one, with the debit date set 2 to 3 days before the due date to avoid weekends and bank holdsPut late fees and grace period clearly in the lease, then enforce it consistentlyAvoid cash and paper checks unless you have no choice, they create more friction and more excusesIf you want the cleanest system with the least friction, pick one platform, require ACH auto pay, and keep cards as an optional backup for tenants who need it.

This informal step avoids nasty surprises later. 3.

All to avoid paying a PM.  

Screening carefully is key to avoid last-minute cancellations.

It keeps execution risk lower, avoids tight appraisals and draw headaches, and lets you move quickly without DTI stress.

Side note, here is a podcast episode I recently did with BP: Avoid Paying Taxes (Legally) with THIS Rental Tax Loophole

This will avoid winter problems with frozen pipes.- ALso see if UTL companies have a Landlord Protectoin Program that will auto-transfer to your name instead of shutoff.

What is the best way to avoid legal issues when making decisions for this property and to not let him claim anything when selling the property?