I am a licensed broker and handled the transaction myself.

Hire a specialized eviction attorney, and let them handle it all. 

I'm at the point of just getting my eviction attorney involved and having him handle it at this point.Any opinions/advice welcomed.Thanks everyone!

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

Having a 3rd party servicing company handle these payments can be a way to help ensure payments are made directly to the mortgage company and provide proof to both you and the seller of the property. 

I'd love to get info/opinions on whether there is a "standard" amount of time to increase rents in the Bay Area for Single Family Homes.How do property management companies/landlords handle rent increases for existing renters? 

You can also reach out to local property managers & ask them how they handle these situations.

@Adria T. the PM company has to communicate, get a tenant in quickly and be able to handle items that are unforeseen..

@Lucas Morales, whether you handle in-house or through a vendor, I would certainly make sure you understand who is responsible for damage and theft.  

How are you handling them, and what tips would you share with others considering a similar venture?