#272 - Key Legal Considerations When Scaling a Rental Business - Diana Khan
Release Date: 04/30/2025
Living Off Rentals
Joining us on this episode of Living Off Rentals is someone who’s helped Kirby secure five different DSCR loans over the past year and a half. Jay Anderson is a lender with Visio Lending, a company that specializes in DSCR loans for investment properties. A DSCR (Debt Service Coverage Ratio) loan allows investors to qualify based on a property’s income—not their personal income. It’s a great option for self-employed investors, those without W2 income, or anyone looking to scale without hitting debt-to-income limits. As an active investor himself, Jay knows what it...
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Joining us on this episode of Living Off Rentals is Matt Aitchison — a hotelier, investor, and host of the Millionaire Mindcast podcast — whose journey through adversity is nothing short of remarkable. After hitting rock bottom in college and spending time in jail, Matt made a pivotal decision to transform his life. He went on to flip hundreds of homes, build a massive single-family portfolio, and is now scaling a commercial and hospitality real estate empire as CEO of Imagos Hospitality Group. Matt shares how he learned to fail forward, using early setbacks as fuel for success. He and...
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Joining us on this episode of Living Off Rentals is someone who escaped the corporate grind and built a lifestyle by design through turnkey real estate. Ali Boone is an engineer, rugby player, pilot, adventurer, and the founder of Hipster Investments. She’s also the author of three different real estate books, including Not Your How-To Guide to Real Estate Investing. In this conversation, Ali shares how she transitioned from aerospace engineering to buying hands-off rental properties—and how that led to her helping others do the same. She breaks down the fundamentals of what turnkey...
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Joining us in this episode of Living Off Rentals is Jonna Weber, a seasoned buy-and-hold investor with two decades of experience investing in single-family and small multifamily properties in Idaho. Jonna runs the Boise Real Estate Investor Network, where she helps connect and support investors across the state. She is also the host of the Idaho Real Estate Investors Podcast. Listen as she shares her journey from buying her first property in 2003 to building a thriving investor community. You’ll hear how she gradually grew her portfolio, why she chose to focus on one market, and how building...
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In this episode of Living Off Rentals, we’re joined by Henry Russell—a Navy veteran, entrepreneur, and multifamily real estate investor with over 15 years of experience. Henry Russell attended the U.S. Naval Academy and went on to complete multiple combat tours in Iraq as a Naval officer. After leaving the Navy, he returned to Baltimore, where he founded a construction company, a property management company, and, in 2020, launched RFC Capital, a veteran-owned investment firm based in San Diego. RFC Capital specializes in a unique and impactful strategy: converting underutilized carports...
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Joining us on this episode of Living Off Rentals is an award-winning attorney, entrepreneur, and mom of three who owns seven businesses—including her own law firm. Diana Khan, named one of the Top 40 Young Lawyers in the country, simplifies the legal side of real estate investing and shares how to structure your business to protect your assets and scale with confidence. From LLCs to holding companies to personal trusts, she walks through what each one is and what every rental property owner needs to know to grow the right way. Whether you’re buying your first rental or rapidly...
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Joining me on this episode of Living Off Rentals is someone who’s been an athlete, Navy veteran, cyber engineer, and now, a short-term rental investor. Stylianos “Steve” Kalamaras is a fighter in every sense of the word. A former boxer turned real estate investor, he’s built an impressive short-term rental portfolio that brings in solid cash flow to rival his tech salary. He is also a member of my First Vacation Rental Investment Blueprint Program, and since joining, he’s closed on a handful of standout deals, including one where he converted a two-unit into a three-unit...
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Joining us in this episode of Living Off Rentals is someone with a 20-year background in the digital media space. Kamille Longstreet is a real estate investor, influencer, and co-founder of Stay Booked, a company that helps vacation rental owners master independent marketing to grow their bookings. With over 20 years of experience in the media and digital marketing industry, Kamille was able to generate over $50K in direct bookings (on top of her Airbnb revenue) and grow her Instagram following to 10K+ in less than 9 months. Listen as she shares the social media strategies to get...
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In this episode of Living Off Rentals, we’re joined by UK-based short-term rental investor Ollie Laing, who’s cracked the code on direct bookings. While most hosts rely heavily on platforms like Airbnb and Booking.com, Ollie generates over 50% of his revenue from direct bookings through his own website. In this episode, he shares exactly how he does it. He also talks about some of the key lessons he’s learned while building a successful vacation rental business, including how he manages properties remotely, his go-to tactics for driving direct bookings, and the strategies he uses to...
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Joining us in this episode of Living Off Rentals is Donald Pearson, a Wealth Management Advisor at Westpac Wealth Partners who holds an impressive list of certifications. Donald is a CERTIFIED FINANCIAL PLANNER™ (CFP®) and a Retirement Income Certified Professional® (RICP®), and he helps individuals and business owners reach their financial goals as efficiently as possible. A graduate of the United States Naval Academy, Donald was commissioned as a Marine Corps officer and later served as a Financial Manager in the Marine Corps. Listen as he shares his full financial journey, the key...
info_outlineJoining us on this episode of Living Off Rentals is an award-winning attorney, entrepreneur, and mom of three who owns seven businesses—including her own law firm.
Diana Khan, named one of the Top 40 Young Lawyers in the country, simplifies the legal side of real estate investing and shares how to structure your business to protect your assets and scale with confidence.
From LLCs to holding companies to personal trusts, she walks through what each one is and what every rental property owner needs to know to grow the right way.
Whether you’re buying your first rental or rapidly scaling your portfolio, this episode is packed with legal insight that could save you a lot of money (and headaches) down the line.
Enjoy the show!
Key Takeaways:
[00:00] Introducing Diana Khan and her background
[01:45] Her time management as a business owner, attorney, and mom of three children
[03:13] Operating her businesses independently
[07:04] Best entity set up for rental property owners
[14:35] Diana's simple explanation about LLC and personal trust
[17:48] Setting up a trust
[20:22] Biggest mistakes for rental property owners
[24:51] The process of failure to pay rent
[28:26] How do you get a rental license?
[37:40] What is an umbrella policy in real estate investing?
[43:59] Connect with Diana Khan
Guest Links:
Website: https://www.dklawmd.com/
Show Links:
Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals
Living Off Rentals YouTube Podcast Channel - youtube.com/c/LivingOffRentalsPodcast
Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals
Living Off Rentals Website – https://www.livingoffrentals.com/
Living Off Rentals Instagram – instagram.com/livingoffrentals
Living Off Rentals TikTok – tiktok.com/@livingoffrentals