Lots of people rent houses for parties as well, and you won’t be able to do anything about it.  

Screening and Gaurantors are important, you might want to look at majors for some more serious ones that don't have time to party. 

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

The Democratic bill proposed seems to offer funding to landlords while the Republican bills offers landlords nothing. 

There really isn't any "fair" cut of the profits, it's really just whatever cut each party is happy with.

You're learning about the eviction process, tenant screening (never "word of mouth" again), the power of a lease WHEN not IF a neutral third party needs to be involved, tenant/landlord laws, and managing tenants who don't care about your business the way you do. 

-how is management split among you, PadSplit and any other third parties?

I have done 100s and 100s and 100s there, thousands of move in and outs best part I live in Fl my PM handles it all.

Whether that is a sale to you or a 3rd party I don't know but the threat alone may be enough for her to sell it to you.

I found similar patterns between all 5 companies: namely, they had taken on too many units, were over-charging me for things I didn't need, and weren't handling issues correctly (they would send out vendors who didn't know what they were doing, mis-diagnose issues etc.)No disrespect to the PMs on this chain or BP in general, but any third-party manager won't perform exactly the way you would like them to simply because of the constraints they are faced with as far as having so many units and owners to keep tabs on.