Leases are signed electronically (esign.com), and I set them up with RentRedi for deposit, cleaning fee, and rent payments.

Have them clean up, Paint, and learn. 

When I looked at the house they kept it very clean.

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

For a good tenant that has paid on time and was keeping the place in good clean condition I probably would have just eaten the charge.

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

We can't make people clean up after themselves and keep things as we would but the day to day dealing with voucher tenants is not the worst. 

As Plano is a pretty nice clean cut buttoned up type of community they don't seem to have a lot of tolerance even for just a few bad apples.Dallas is considering a ban. 

The land is being sold as the investment is costly with all the illegal dumping and clean-up cost.