But include an ongoing expense component to your agreement. 

Maintenance expenses could start popping up depending upon the life cycle of the components.

There is a giant lifestyle component to the former analysis while the latter is more of a rote analysis that can be bounded in finance-land.  

What kind of incorporation would you consider (in GA) - LLC w/ Partnership option or would you add Land Trust component?

If I get applicants like Billy I dig hard and usually this type of behavior has manifested itself in detrimental ways in other areas of his life and there is something in his background that would disqualify him.

@Wihan VanWyk here is a blog I wrote on hiring a professional property manager, hope it helps. please feel to reach out if you have any further questions:Hiring a property manager is an important decision, and can be an asset for a property investor, but can also be a detriment if not chosen carefully and without some due diligence.

If you could provide a step-by-step (including the time component i.e. 6 months seasoning), that would be amazing.  

I am interested in starting to invest in real estate, but I'm wondering what the benefits/detriments are to purchasing under an LLC vs. purchasing as an individual.

They may own (free and clear) a nice car, some jewelry or other items of adequate value (or preferably great value) to act as compensation for the lost rent.I'm not suggesting that you open a pawn shop service for wayward tenants, but in this one case, since you're seem to be having difficulty taking direct action against the children's welfare, you might want to barter for the missing cash component of the next three month's rent.Like others above, I however still confused about why you as the listing agent are burdened with this decision.  

It's pretty detrimental to business to have bad reviews floating out there, so I want to make sure if I have any, that I actually did something wrong!