They would not contact the homeowner, not look up any information on the property, not represent me in any way merely report a house on 123 Main Street looks to be vacant.

He told me that we can't do that and that it is a partnership.In looking at the IRS definitions it states:PartnershipA partnership is the relationship between two or more persons who join to carry on a trade or business, with each person contributing money, property, labor, or skill and each expecting to share in the profits and losses of the business whether or not a formal partnership agreement is made.The term "partnership" includes a limited partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by which any business, financial operation, or venture is carried on, that is not, within the meaning of the regulations under section 7701, a corporation, trust, estate, or sole proprietorship.A joint undertaking merely to share expenses is not a partnership.

There are many investment strategies, momentum investing is merely one. 

Let me know if this is for a MF building and I’ll DM you their contact info.Also, let me re-phrase my initial statement where I said I get cheaper rates.

Very familiar with one, my husband calls it camp and the mere mention of me renting it sends him off on a tangent.....original full log cabin on 10 acres next to federal forest, generator, 10 acres....it would rent in a heartbeat...but then I would be a widow.

Even though it could have been a great deal we lost it over a mere $5,000 that we wouldn't budge on.

So here is the question: Would I have to pay capital gains on this money I receive since it technically isn't "profit"; it was money I SPENT and am merely just getting back.

They took on additional risk than what a mere investor would take and hence, got compensated (because they could’ve massively failed).

The ideal solution would be to negotiate a payoff at a reduced amount and have them DELETE the account instead of merely showing as PAID.

BiggerPockets' rental calculator indicates it should cashflow $7500 per month after all expenses (including HST on short-term rental income) are input, assuming 3% vacancy; 4% repairs; 5% CapEx; 8% management and assuming appreciation merely keeps pace with inflation.