The listing agent could be new and never added it so he called him out on it when it was on paper.

Both properties I have purchased was pre BP so I went into the purchase knowing nothing except how to sign papers.

IF the laminate has a paper type substrate it will blister along any seams that get wet.

My question is:  what does a typical rental partnership look like on paper? 

Lets say I can work out a deal with him and he can maintain his current bank mortgage,  What legal papers between me and him would let me be able to deduct the mortgage interest and taxes, when those mortgage docs would still go to my buddy with his name on em?

Even when you just over see the property you need to keep stocked on tp, paper towels, salt, pepper, spices, cleaning up the grill, etc.

Have an attorney draw up paper work.

You might be able to find some clever ways on paper to make it happen.

I couldn't locate the property to run rent comps based on the address, but if you're getting negative cash flow on paper, you may want to investigate things closer.

No matter what they are on paper or even in person, you are dealing with people and people are unpredictable.