If this keeps reciprocating well with the community, I'll keep doing them.

If they're going to force an eviction, I would want either 1) to just wait until it's done and keep extending the contract (if you're in no rush at all) or 2) ask for a substantial price discount to deal with it yourself.

At that point you can keep the property in Seattle or Sell it down the road if ever needed.

.: Property managers, how do you collect rent from tenants, keep your management fee, and send the remainder to the owner without it reflecting as if you received the full rental income in your bank account?

I also figured that when he parents do pass down the road, we could refinance through a bank and pay off the sister her half of the home, while still keeping the house and the rental income.

They'd be much better off being a Hard Money Lender and make 5 times that (and every repair to their "investment house" is paid by them...So, if you put $10k down on a property and make $150/month net cash flow your Coc Return (annualized) is 18% which is Very Good.If you followed that and understand it then keep looking for a deal.

It is an expense, but they keep it all legal and compliant.

I have been to the DFW area a few times but not specifically to these northern suburbs, but I know that DFW is one of the fastest growing metro areas in the country with a robust economy, and I expect it to keep growing.

My advice is to keep trying because all it took was to find the right smaller bank willing to take a chance on me. 

A CPA who specializes in partnership issues can also likely talk through these issues with you.3) Depending on the size of the deal - Keep It Simple - the number of really complex agreements that come across my desk for a $500k property is crazy, and it ends up costing as much to do those tax returns as a comparable $5m deal