You should be very very happy when the recession coming.For you guys that always look at the mirror, when the recession is formally recognized, historically we have the following stats :- stock market melting up- Fed is lowering rate 400 BPS !!

In comparison the deferred sales trust has no pending legal cases, has a successful Private Letter Ruling in form and substance, has had 15 IRS audits (3 formal), 2000+ closed cases, DST law firm provides audit defense at no additional cost for life of the trust, and all IRS audits were closed as no change audits.

There was no formal contract with the rehab contractor.

But don't let them show up to an empty house with no work started and no formal address change.

Just take a week to formalize your database of contacts and just market to those.

Does anyone belong to some reputable landlord or real estate association, that could prepare and send something formal?

I've recently formalized my business by creating a corporation. 

We do not break even however and probably cover around $500/month between all expenses but that will change when we formally convert the duplex into a triplex.

First of all use the first conversation with a perspective tenant as a qualifier and then have a formal application ready for them once they view the unit and are interested.On the 1st conversation I ask 3 things:1.

No formal training the only thing that keeps you from doing it is cash and credit and desire.