It has proven to be more difficult to set up than expected mainly because of having to use a third party company for a physical business address1.

I would recommend an unbiased party (not anyone on the agent’s team, maybe an experienced local investor) do a video walk through of a property you’re considering an offer on if you can’t see it in person.

My attorney told me because we are a third party there is nothing we can do and that I am at the mercy of seller’s attorney and TC/land surveyors.

If you were planning on using a PM company or third-party manager, this would add another ~10% to your monthly expenses, at which point I would no longer consider this to be a deal worth pursuing. 

My goal is to ensure a positive and stable rental experience for both parties, especially in Colorado's evolving rental market.

When we purchased our third home, we did not qualify for the rate as a second home and had to pay the rate as an investment.

Three tenants in three years with two evictions (the second absolutely destroyed the home), and now the third tenant caused a house fire. 

Think Superbowl parties, World Series, Final 4, Etc...

Have all parties initial the section lined through to show they agree to the change.Also, line 3 says the late fee only applies to "Periodic Rent" which shoots you in the foot because there's no provision allowing you to charge late fees on the other charges.Where did you get this form?

Escrow for loan payments should be set up with a third party servicer.