And you are layering complexity buy doing a full rehab and low income neighborhood and doing it remote - these factors don't just add up when you stack them - they multiply.Here is what I tell every OOS investor (and most do not appreciate it): if you decide to buy OOS, buy an (almost) move-in-ready home in a quality area. 

Quote from @Chris Seveney: Quote from @Jay Hinrichs: Quote from @Evan Polaski: @Hyun Supul, without diving too far into this, and the devil is always in the details, when I see this, I can't help but assume this whole offering is a way to for them to raise pref equity for their own deals, but wait, that won't look too good, so let's layer in some private credit, too.It says it will lend money AND invest pref equity into MF deals owned by Disrupt and Open Door Capital.Questions to ask: what allocation is going to loans versus pref equity in their own deals?  

Given the complexities involved, especially in the Chicago, it's so essential to understand the tools available to safeguard your assets.Umbrella insurance serves as an additional layer of liability coverage beyond your standard property insurance.

I do have a direct booking site (and yes, very tempted to steer people that way but I do not want to jeopardize our relationships, etc. with the major platforms which understandably, control the communication channels- and yes, I'm looking at you Airbnb now that you're not even allowing access to guests' or hosts' phone numbers except via a mask!).

The best screening programs layer in things like verified identity checks, income and employment confirmation pulled directly from payroll or bank data, and rental history verification that goes back several years.

You’re doing it in the right order — get the umbrella figured out, then move the properties into LLCs so you can layer liability protection both legally and through insurance.

Many “free” or bundled platforms mask key identifiers, which limits your ability to verify identity or pursue recovery later.When screening, think of it as your first line of defense against rental risk, not just a box to check.

Quote from @Cory Berrang: I know an LLC is the first layer of defense, and trusts can add another layer.

Target a Class B SFR rental and don't try to buy an odd property.You'll have enough of a challenge learning the basics and won't need to layer other issues on top!

Thus, by dual layering the LLCs where you own a WY holding LLC and the WY holding LLC owns the FL LLC you can effectively take advantage of WY asset protections while also satisfying FL law by having the LLC that directly owns property set up in FL.