If your mailing is poor, insulting, or contains spelling and syntax errors, like your post, you may find that you have alienated the very people you wish to partner with before you have spoken to them.

Make sure you have a solid lease that spells out EVERYTHING, including the prohibition of subleasing (Which is what Tony did) Is Tony pestering you about his deposit?

May as well get it all spelled out, disclosed and agreed upon by all parties so there is no misunderstandings.

Of course by that time our freezing spell was over with. 

Typing this on my phone in my car while I wait for an appointment so sorry for formatting or spelling errors.

Because Cap-Ex costs can suddenly pile up without warning, not setting aside enough reserves could spell trouble. 

sorry bad spelling i wrote than in a hurry

I am assuming a separate contract (possibly through a lawyer) would spell out the details of the partnership.  

you had poor advice.. you can't blame seller.. and you need to be very specific in your contracts. this should have been spelled out IE..Never give over money before you own it.. that's a recipe for disaster you could have just said go ahead and rent it but rent it for this amount other wise I am not buying it. 

Standard Fannie Mae language in short sales and REO sales, it shouldn't have been a surprise as it's common knowledge, and was spelled out in the Aprroval Letter.