So, any investments are on your personal taxes the same as if the property is owned by you personally.

You might want to limit your visits though to avoid escalation.Short term if the smart lock is on his personal door just change it to a key if it's isn't working for him, you can always switch back later.

Was the risk worth the reward in your situation?

This is a personal choice and depends largely on your risk tolerance level and the current demand for rentals in your area.Vehicle Repossessions: Having a vehicle repossessed is strong indication that a tenant cannot handle their money very well.

I personally feel that it is a liability people could use as an excuse for an accident they have if they are drunk.

Never buy without personally inspecting and approving the property and INDEPENDENTLY, INDEPENDENTLY, INDEPENDENTLY, verifying everything from values to market rates, to approving tenant selection procedures and standards, to repairmen on standby, to everything else in Christendom that you can thing of.I am not a fan of out-of-state investing, especially for those with less than 50 years of experience, and for them, they’re probably too old for the hassle. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Like many things, on the other side of sacrifice, discomfort, and hard work is a large financial reward. 

Need some advice on the best way to structure this deal that's fair and beneficial for a 3 person LLC/partnership agreement. 

Personally I don't ask for pics unless there is an issue and she sends them to me automatically.IMHO if you have a good cleaner that you trust, asking for photos is probably superfluous.