Avoid any self-help eviction tactics like changing locks.Maintenance: As a landlord, you’re responsible for ensuring the property meets basic health and safety standards, including working plumbing, heating, and electrical systems.Inspections: While there are no mandatory inspections required before renting, your property should comply with building codes.

And the split is whatever you decide on. 50/50 is what a lot of people usually do.

I do know some people suggest having multi checking accounts for long rental properties.

There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.

The last 5 deals I bought were all basically move in ready, bought only at a slight discount after deals fell through. 

I think he's in the process right now so I'm not sure how it's turned out, but last time I spoke with him it seemed that it was going well.I always tell people looking to do co-living that there is a certain amount of risk that you have to be willing to take on.

Let your criteria do the filtering for you.Regarding retention and renewals, the only time I have asked people to leave is when they have had rent payment issues and/or damaged the property. 

I started an article sometime back about whether or not people should do prenuptial agreements.

I am interested in meeting people from whom I can learn more about real estate investing. 

You'll want to put together a personal financial statement (basically lists of all your assets and liabilities) and have your tax returns ready.