So their opinion of what to do when a problem arises is inherently biased.  

@Nate McCarthy the odds of disputes arising are considerable.

A default by one co-owner results in a foreclosure on only the defaulting owner’s share, and does not affect the other co-owners.- Both Sterling and Bank of Marin offer financing to TIC developers for acquisition and renovation of buildings that will then be converted and sold as tenancy in common.

If you are consistent with these action items you will avoid most claims, your business will be more profitable,  operate more efficiently and if a claim were to arise you will have all your ducks in a row. 

We plan to stay in this house for more than 5 years unless another great opportunity arises, but maybe it is best to allocate a bigger portion of savings to our real estate investment savings account than our home improvement savings account for the first few years.

I don't remember that legal argument arising in the last couple of cases I was in, so it just may not have been addressed.   

However, there may be a commonly expected way of handling it in your area.

Verify credit, employment, etc for you. 6) I would definitely want noise (quiet hours), guests, and treatment of common areas covered. 7) We've used Rent Manager as it focuses more on the financials which I think is super important.

It seems there’s a common misconception largely influenced by social media, online courses, and influencers who oversimplify the process that real estate is an easy, passive way to generate income with minimal effort.

The second company had a PM contract and due to other reasons we did not continue their services after a couple of months so tax stuff did not arise.