Clear expectations from day one will help you avoid misunderstandings.

The renter of our condo in downtown Asheville gave notice due to the city being without water since they expect it to be weeks before city water is back on. 

These are there in Stessa as expected.

That is understandable and makes senseThat is literally exactly what I said.If you think "earning it" is posting a response to a person in an online forum where they know nothing about you as an agent and you barely told them anything about the area, you are more out of touch with reality than I expected.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Do not expect them to be proactive in their communication when it comes to renewing leases or anything else.There have been 3 instances where accounting has messed up on my account resulting in more than or less than the normal amount being deposited into my bank account.

Is it fair to expect the capital partner to bring in the down-payments since they wouldn't be bringing anything else to the partnership? 

I show mostly luxury homes, which is more expected here than at lower prices, but it's still of note.

Sounds like you have reasonable expectations, which is always a great thing lol.

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes.