If the two are afraid for their well-being most places have laws in place to protect them by letting them out of leases-given it is usually women escaping domestic violence.

If he wants to retire I would definitely play up the continued monthly income side....You might also be able to get him to see that a lower interest rate protects him from a refinance out. 

They have no authority in the county run areas and if the county changed their rules they would run afoul of state protections.

Originally posted by @Michael Curcio:just suffered a huge loss, investing in notes.

And, if the money is borrowed and you lie on your loan application about that (they will explicitly ask and you will have to explicitly lie if you want the loan) then you're committing loan fraud.If you have to turn right around and sell this property for some reason, I,as the lender of the 20% down, will suffer a 50% loss. 

I've taken all the major options to consideration such as book keeping, accounting, taxes, payments, maintenance/trouble calls, price of software etc.At this point, I'm looking for the most balanced option that will best help protect myself and my assets.

I’m in a city that really suffers from developers wiping out all the culture and and building expensive housing.

How do you go about protecting yourself when you go in on a deal with multiple people?

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Absolutely agree, lot of protection buying long term.