It felt like a glorified rent-to-own agreement. 

They are still responsible for damages (already in our Reservation Agreement) and we provide the same starter set of supplies whether it is 1 day or 3 months. 

(B) An Owner may lease a Unit for residential purposes provided;(1) There is a written agreement;I am new to leasing out a unit in LA so I am confused about the following (all rentals would be more than 30 days):1.

So if you wanna get into this kind of agreement, make sure that it is not contingent on the property appraising in the future.

In his initial email about the agreement he said:“We will be providing monthly updates to our investors, along with quarterly payments (or larger chunks depending on if we sell the asset off).

I think he would like the steady income too, so parts of me has thought of writing up a unsecured loan agreement with him and just paying him out monthly to give him some reoccurring income vs a lump sum, but then I believe he would have other pay taxes on that income vs inheritance.

Understanding the Lease Agreements: There is no lease agreement currently in place, and the tenant is paying about $400 lower then current market rent.

@Wesley Tripp While I dont recommend wholesaling with an agent involved, in this case if the seller has not signed an agreement with the agent, they are free to sell the property to whomever they wish.

This could get hairy and you would need a solid operating agreement for each fractional owner as to what their shares are entitled to (voting vs non voting), enjoyment of property, etc.

I recently moved to Ownerrez; OR's integrated rental agreement w signature is the bomb, you can use their integrated website or booking widget to build out your own DB site.