I'll be looking into other arrangements.

That is a great benefit of that arrangement, but you didn't mention that the downside is assymetrically shared by the property owner.

I have already found and vetted tenants so the only cost to him is the lease; I've made arrangements for current repairs. 

Check your buyer rep agreement for how that's arranged. 

This gives you the benefits of ownership without the hassles of “landlording” or playing general contractor—in my opinion, it’s a more feasible arrangement if you’re looking to live in one state and own in another.The initial outlay can be pretty reasonable as well.

If you want to see it pre rehab, we may be able to arrange something for Dec 1 (it is in Pt Loma near OB).I get a lot of off market property listings sent to me.  

What is your arrangement with your service provider

BUT, in finance, in mortgage brokerage arrangements, "investor" means your own money, not your uncle's money, not your buddies money, not borrowed money, your money.

To safeguard against being pushed out, include provisions for mediation in case of disputes and consider filing a lien or using escrow arrangements to secure your share of profits. 

How much value would a web site with direct booking bring to this kind of arrangement as compared to listing on Furnished Finders, VRBO, etc, particularly if we stick with the mid terms.