If you have checkbook control you’ll have a bank account with a bank that has FDIC insurance up to $250k per account.  

I would like to be in control of my money, so I have always gone with the highest deductible posable and maximized cashflow.  

Meet the players. 

Your strategy takes advantage of your employment cash flow and ability to control discretionary spending.  

What's the exit strategy if any, for the investor, given that, with 50%, he has no control and the market there is illiquid, especially when the HELOCs out of North American properties are much more expensive.Properties in Costa Rica are already expensive and I've tried many times to make a potential investment there work and it's never worked with the figures.

She spent countless hours on the phone—with me, the city, contractors, and other key players—to help find the best path forward when she didn't have to.What I Learned:Insurance is your safety net: Always double-check that you have the correct policy for your project type. 

Neither VRBO nor Airbnb are vetting guests, either.The best you can do is have some internal controls, such as minimum number of nights.

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

Pricing tools that exist on the market are decent, but you also need to know how to control it, otherwise, it will go nuts with unrealistic rates far out and extreme last-minute discounts. 

The sooner you regain control, prove that you fully intend to enforce the terms of your lease, and that you will not be 'played' by their recall of events or documents, the more effective this action will be.