You may be able to get a levy against their bank account or file a wage garnishment without the need for going to collections. 

You might consider buying this winter since houses are on the market 60-90 days right now and you have a good negotiating position.One positive on the higher interest rate is that you can deduct the interest and lower your taxes.

I'm a realtor from Colorado who wholesales STRs nationwide to help investors get big tax deductions.

This is an old thread and I don't have an opinion on Rent Hero (except that maybe this business name feels a little dated and pigeon holes them)For tracking receipts Real Estate Investors often think they need physical receipts for every single tax deduction.

Oh look, you get to deduct your cell phone, your internet, your tax prep, all kinds of other things regular people don’t. 

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry. 

And remember the tax deductions and depreciation you will lose out on. 

Would this, however, place an administrative burden on the property owner, who would need to handle taxes, deductions, and payments to the cohost?

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.

In you're case you're looking a $500k deducted from capital gains.