Curious if this is normal practice or in other management agreements people have signed? 

You would have to go after the one individual for non-payment and you could only remove the other three by going through the legal process like you would for someone on a verbal agreement, which puts you in a he-said, she-said situation. 

Work with a real estate attorney to draft a formal agreement that outlines responsibilities and protects both parties. 

Those are not the most important parts of the operating agreement.

Ensuring a solid lease agreement and security deposit will help mitigate this.

Just off the top of my head, I wouldn't feel super comfortable with non-US properties because properties in the US are held to HUD code (at a minimum).

No need to check those since they’re all no fee no minimum accounts. 

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.

The buyer signs a representation agreement with no locked in period, with the flat fee buyer agency.2.

Usually my time spent with newbies last a minimum of 1-2 hours on our first meeting (either in person or on the phone).