I think once you've done that you will have a well established network so that when your first deal comes around it will feel much easier to navigate. 

There are a number of “tests” that have been established by courts, yet each situation is somewhat unique.  

I was suggested to set up a LLC, establish a master lease to rent properties from our own then rent out to tenants.  

My question is how do you evaluate the performance of an established rental house? 

We've established a property-specific LLC that our private money lenders join with the understanding that the LLC will guarantee the loan from the HML. 

The expectation established fell far short given all the mistakes and poor advice.

My best advice is to work as many hours as possible now to build a cushion as you establish your new business.

Some landlords have weekly payment of rent.If you keep it as monthly rent but establish a patter of accepting 1/2 at a time, this could be used against you in an eviction case.

I think establishing these relationships not only will help you learn but will begin the networking phase that could lead to a mentor or partnership.

When it was ready, I leased it to an established recovery housing operator on a 15-year net lease with a few 5-year extensions built in.The operator took over management, kept the home full, and paid steady rent every month.