@Marlie Evans To fix past depreciation issues, file Form 3115 instead of amending each year.

I messaged him here on BP and we talked a few times for 30 min each time. 

I took a look at the listings on their website.Most of their inventory is 30+ min from the 'downtown' area.Seems like they charge $400 - $600 a bed in Dallas and Houston + a move-in fee to the guest.It would be interesting to know what their management fees are.You should be able to make money based on those numbers if they have a nice occupancy rate.I personally wouldn't rent from there because I prefer my own space but there are definitely people out there that like to save a couple hundred on rent or even enjoy having roommates(Company) around.Best of luck!

We had a vendor past few years who was an A.

Two different handyman have already went out there and supposedly fixed what they considered to be the cause of the leak in the past.

Go to several NV PMC websites and see if they share copies of their leases.Use those as templates to cut & paste your own.THEN, maybe have an attorney reivew.Why?

Quote from @Min Zhang: Welcome to BiggerPockets, Markwon!

So, out of the past 7 months they have been renting, they have been late on the rent 5 months out of the 7 months, but they always end up paying with late daily fees.  

It’s past due so we are surviving off our multiple 90 day extensions right now.

Don't loose hope; once you get past this bump, it'll be worth the hassle.If you ever want to chat more about strategies or just vent over a coffe, I'm here.