You need to check your local residential rental laws to see if you would be impacted similarly.Assuming you want the rental period to remain monthly If your tenant wanted to pay bi-weekly as opposed to semi-monthly, I would insist that each payment remain $1000.00 to ensure rent for the month is payed in-full by the first.At the end of the year, you could carry forward the extra 2K accumulated to the first month of the next year.If his pay is going into a bank account, I do not understand whey he can not simply schedule a recurring {semi}-monthly payment to you for his rent rather than have his employer implement another payroll deduction {it is possible you would not be an eligible recipient}.

I don't think there is anything wrong with someone using an EIN for a residential lease either, BTW.

What's the most efficient and effective way to secure a loan against a residential property?

Brokerages that control much of the residential market can and do influence where prices are set in reality.

So, any L/O, Sub-2, Contract for Deed or any note thereby secured by a residential property are all financing agreements.Now, a lease at market rates without any purchase credit allowed or granted together with a true option, where no part of the option price is financed and it is paid as a lump sum when made is not a financing contract, so you could do those.BTW, any agreement to reduce a sale price over time for past performance can be seen as a financing arrangement as well.If your transaction is not specifically exempt, compliance is required in any installment sale.

Basically, all I need is their name, realty company, and phone number.

You can't do an LLC with any conventional residential loan products, you would be looking at commercial/portfolio loans with higher rates.

The financing options are entirely different when you are looking at 1-4 unit (residential) properties compared to anything 5+ units (commercial).

RE foreclosures and collateral sales are not readily liquid and the fact that a recourse loans are made, address this issue of accepting a less liquid asset.Now, if the individual borrower were to pledge the property as well as cash assets, say a bond or even stock or bank CDs, then the collateral aspect could swing the risk assessment toward a NRD.Off to other areas.Usual and customary carries legal weight in any transaction, from buying a car to having pizza delivered to residential and commercial real estate deals.What would a reasonable person do in the same situation if they had equal or nearly equal knowledge as other parties?

My wife and I currently own a successful "boutique" residential real estate company, a property management company, and we just launched a development company.Sincerely,Rob