Hi Bruce, i'll start by saying i'm a mortgage person, so please understand the context in which my response is coming from. you'd need to create CC&Rs/bylaws and establish an HOA in order to do this.

I hate to be cynical but I feel the same way you do, I need things in writing.

I would take what he wrote very heavily. 

I contribute that much monthly any way as my side business helps to get me where I want when I retire. 

Quote from @Jon Earle: I just set up a SDIRA and am looking for advice and tips on opportunities to invest.

Quote from @Michael Evans: What steps do you go through to secure vacant rental properties in rough neighborhoods after a tenant leaves and you're waiting to turn the property over?

Have some very competitive prices to start with to get bookings and reviews.

What tools or methods do you use to verify income beyond traditional documents?

When a lawsuit is started, there is something called the complaint.

I thought you were building to sell.