Airbnb will send you a free Minut noise monitoring system (they did before) that can help monitor noise and parties as well. 100%I would add that your rates are too low if you are attracting these types of guests. 

Ask for its breed, weight, and name, and have them attach a picture.- Make the application part of the lease, with the stipulation that if they've lied in the application or in the lease, they can be evicted.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.

So you have to weight risk to reward.. and sometimes we have to eat one that we bought it happens..

Some items might hold more weight than others, but you guys should sort through that together.You also might just do the partnership deal by deal - sometimes jumping into a partnership before you have officially worked together is NOT the best idea...

Sure, you can make a few quick trades, but the playground monitors (a.k.a. the law) might notice, and you’ll miss out on the bigger opportunities and loyal customers.So, while skipping the license might seem easier, it’s not the best way to win at the toy game in the long run.I have this talk with 10-15 people each month at our Free Meetups here in MA, NH, and ME.

It does take 1-2 weeks to accomplish, so does require some effort and monitoring on your part, but sounds like you are a diligent self-money manager, so should be easy for you to accomplish. 

For instance, in my private lending, I dont really give a numerical credit score much weight, but I absolutely look at the composition and history of the individual tradelines on a report if the borrower is a smaller outfit, such as a single member LLC or similar solopreneur-type operator.

@Eric Andersen definitely put weight into what @Michael Baum wrote and do your own research on the city regulation/zoning.

Besides putting together the best SOW using accurate/actual quotes as @Peter Mckernan and @Alan Asriants commented above, another key aspect is tracking expenses (bookkeeping) and monitoring the budget throughout the project. 

@MIchael McCUe   I get it, it feels like an incredible weight that you could easily lift with bankruptcy.