I see a lot of discussion here about maximizing profits and adding clauses to leases so that tenants take more responsibility for things, but I'm interested to know some advice about how to take better care of tenants to build up a good reputation and practice business in a fair and compassionate way.

Different types of legal entities have different tax consequences.

Others, like this one, are so blatantly bad that the sheer volume of people raising money for them have destroyed the reputation of fund of funds across the entire industry.

@Alex Borczyk - just as an fyi - for passive multi-family investing, I've found in general the minimums tend to be around $50K (at least for the handful of reputable syndicators I've looked at investing with).

It's interesting that many of these VC-backed PMC's, despite having 10k+ properties under management, aren't doing well financially - one of them just merged with another industry-related company also not doing well.Just for fun, here's a partial list of PMC expenses that owners pretend don't exist:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why something is taking so long, and more & more & more...OBSERVATION: many owners only want to pay a flat fee or 50% of a month of rent as a leasing fee - without realizing the repercussions. 

Some criteria to consider when evaluating a market are:- school districts-crime rate- job/population growth  If the crime is low, schools are reputable, and job/population growth are steady/high, chances are you are looking in the right markets. 

Is the fact that the seller ultimately suffered no negative consequences and got fully paid make a difference?  

What are my realistic options for a buyer backing out of a contract a day before closing? Lawsuit? There's no EM.

Besides Turno, does anyone know of a reputable Cleaner/Handyman in for STR in Seattle?

I am out of state so I have a reputable PM handling the tenant but I want to make sure I am adequately protected in terms of liability and such.