But he has been nice about and kind of tries to clean up afterwards. 

Would you then say AIO is better than the regular 1st position HELOC?

I don't charge any deposit or cleaning fee. 

My best projects are usually taking a dated home and cleaning it up with interior cosmetic renovations.

Was a drug addict but allegedly clean for 5 years.

If so, we finance SPEC builds on a regular basis, both single unit and multiple/subdivisions. 

Clean them really well with something like TSP and use an enamel paint and let it fully cure.Renos for a rental vs your own home or resale are a bit different.

If the background check and credit check come back clean, then I approve the tenant and walk them through setting up online payments.

The disadvantages in my opinion are the meeting and greeting and cleaning up after people. there is more management involved and what would happen to your profits if you hired the duty out? 

It's not any specific form, it's the regular monthly/annual report from your PM.If you're self-managing this project, then you need to give your tax guy a detailed list of your expenses.