If so, would both borrower and lender be charged the same or just one party?  

We're involved in a curriculum right now, and are also reading a bunch of books and binging on Bigger Pockets podcasts.

@Bradley MairThe strategy involves buying properties as primary residences, resulting in lower down payments and better cash flow.

I hold all of my properties in land trusts with a third party trustee.

HI @Dan Ashley,I agree that partnering with someone would be beneficial for both parties.

I'm heavily involved in the co-living side of things in the Atlanta market and work a ton with Padsplit.Off the top, nice family oriented neighborhoods are typically a no-go for rent by the room and even more of a no-go if it's in an HOA.Please feel free to shoot me the property address in the DMs and would be happy to provide some feedback!

A lease can spell out rules and expectations and its more than just a contract its a way to COMMUNICATE between parties.

If they don't, consider involving an attorney.

You could determine FMV for property management and compensate the party providing it even if it's one of you. 

Since there’s no recorded lien and they weren’t involved during the foreclosure, it sounds like they’re pushing boundaries by attempting to enforce something without proper documentation.