As far as 2-5-7.

What would be the cash impact to your situation and does it change anything as far as your risk?

I would share the cold hard tenant ledger and let the next LL decide how to interpret it.As far as lying, acting as someone's accomplice in a fraud make you both rather bad people and sort of undermines your stated reason for looking to do this in the first place.

It is so hard to get started in this business as the comments above point out.

As I've learned from the BP podcasts and in my personal experience in the industry and the trade, succes in real estate investing is so much impacted by the professional relationships and connections, and as such, I'm excited and motivated to start meeting and working with likeminded, motivated, and ambitious persons like myself! 

Having general rules is so important.

If no amount is stipulated, Tenant must pay Landlord’s actual reletting costs as far as they can be determined.

The list of problems I had with them in a yeas time is so long I could fill a page! 

Also, the city's building code could be different as far as the required fire rating for party/shared walls, etc, thus the construction costs could be higher.

There is so much that goes into it, but previous answers are very well thorough and great responses.DSCR is the way to go if DTI is an issue.