In the end you will likely not be friends any more and your whole family will think you are a greedy money grabber or worse.But, if you decide to disregard this advise and do rent to friends or family, here is some additional advice to ignore:1. 

Maybe I can learn something...Gotta say though, it's interesting the Original Poster is a data miner but seems to disregard data on REI.  

This goes a long way, but obviously there are certain tenants who completely disregard it.

I would disregard the answers from the East Coast and the West Coast.

@John Clark also you are completely disregarding the section of the lease that calls for timely payment of utilities.

And most probably disregard them anyway. 

Also for tax reporting purposes, the LLC is disregarded and it goes on your Sch E. 

"A lack of care that demonstrates reckless disregard for the safety or lives of others."

If we form a South Dakota LLC, can we still treat it as a disregarded entity because we live in California?

I would more or less disregard the asking price.