WHATEVER you or any other real estate investor does #1 - Never Ever Under-Estimate non-supportive parties:  HUD, REVERSE MORTGAGE LENDERS, FHA, YOUR OWN REALTOR, Financiers, INSURER'S, LOCAL LAW ENFORCEMENT EMPLOYEES - bribed Police Inspectors especially!  

I am learning from all of you, and one day I hope to be a source of wisdom for those who post here.Since I  last posted, I have had two parties sign up on Airbnb for the place, so I am booked till the end of June. 

Usually, one party has more funds and the other party has the experience and time to be more hands on with the business. 

Quote from @Chris Seveney: @Jay Hinrichs100% agreeWhat we did was had a third-party company perform a track record verification report.

To do that we'd need to examine the contract and the various other factors e.g. the intent of the parties, actual lease payments vs fair market rents, etc. 

Shopping part is always the fun part, and the admin side takes longer. 

Now the really specific part is that it is in a retirement community, if anyone can share both negative and positives of renting there, it would be greatly appreciated.

We have dual agency here and we do represent both parties often. 

Hardest part is sewer and water.  

@Shivani KumarLet’s say they have to get a pest control company to do something and it’s a third party company - they will charge 5% which is very common as they have management to bill and coordinate that activityMany places I see this 10-15%I would make sure to check indemnifications clause with an attorney