However, if they can get a co-payor on the lease (parent, friend, mentor, sometimes even an employer), then I think you can sleep at night because an eviction judgment on a co-payor will end that co-payor's friendship with your tenants.  

This is where some end up making the mistake of blurring the line of business and friendship.

Jason Cook I definitely would like to continue our friendship and working relationship on future projects and I totally intend on presenting a solution where we both pay towards the damages once I receive the quotes from the experts.

Friendship: My friend Nick and I have been working together acquiring as many B&H investment opportunities that fit my investing criteria. 

I'm not looking to make friendships with my tenants, it is strictly a business relationship.

We settled on a price $500 less than we had wanted, due to their financial situation (and our "friendship"), and signed a 1-year lease. 

If one new person shows up to every meeting and I can make a lasting friendship/help them get started investing I consider that a bigger win!

I would hate to have to do this as it would likely ruin our friendship, I'm having a hard time finding other options.

You will form a friendship with the hard money lender that helped you succeed.

I would try to find someone with experience that can help mentor you a bit .. why just start a partnership because you are friends with someone ... it can wreck a friendship faster than anything .. at least with someone else ..its all business ... put in your agreements contract between yourselves exactly what each one of you expect frim each other ...then if either of you dont live up to your agreement .. make sure there are penalties , just like a contractors agreement should have .. i wish you the very best also .. and God Speed to you ..