Either don't accept any of the CL risk, let that be his contribution OR accept 100% of the CL risk, hire your friend as a GC, and collect 100% of the profits. 

Hi, I live in Charlotte, NC and I am brand new to house hacking and real estate I have 4 rooms in my house to collect rent from and I am looking for the best software/way to collect rent/manage the property.

Doing your due diligence and collecting research every step of the way is also crucial.

(c) Liens for special assessments levied upon the property conveyed that were, at the time of the sale under this chapter, not included in the amount necessary to redeem the tax-defaulted property, and, where a taxing agency that collects its own taxes has consented to the sale under this chapter, not included in the amount required to redeem from sale to the taxing agency.

It serves to create a defined contract to point to if there are questions, you learn how the leases function, it's easier to collect deposits, if you sell your house to another investor you can show it's been rented out. 

It's some BS thing instituted by banks so they can collect interest for a few days. 

I had Rent Redi before - good for rent collection and maintenance. 

But what does the lease state about nonpayment of the rent and collections process?

I am not sure how you plan to handle rent collections but if you think there may be times that a tenant will need to pay via some non online option then having a bank in the area of the property can be good.

- How many collective years of experience does the executive team hold?