Do you do annual agreements or by the semester, and how do you break up payments. 

Invariably, someone will break-up and/or move.

Did you think through all of the possible scenarios ... falling home values, insufficient cash flow, breakup with partner, rising taxes and other expenses ... and determine that the future rewards (operating profits and capital gains) were worth the risks?

They got the house i marital breakup.

I'm looking to compile a checklist of sorts for myself to better facilitate the process (until I meet more private lenders and break up w/these HML's!).

Lastly, I receive checks from my property manager quarterly -- i.e. the net payout.I was going to break-up his monthly statements into different PDF files, showing (I) rent, (ii) expenses, and (iii) property management expense.

What if she signed it alone, they break up, and she moves out?

Unfortunately we were also in the middle of the break up between both partners. 

I would add the following to that list:Building inspectorsGarbage disposalsCeiling fansFaucet sprayersFlat roofsAdditionsToothless neighbors that tell you they "don't like rentals"Fat tenants that clog the toilet due to the disgusting processed food that they eatBF/GF's who break up and think YOU should decide who stays and who leavesContractors who show up late because their life is a total train wreckSideshow neighbors who don't keep up their property and make it harder to rent or sell yours.Furnaces with a glow barThe pressure relief valves on water heatersPhone calls after 4:30.

wow what an interesting situation this is a new one to me. My tenants broke up AFTER they moved out of my place but before I am going to pay them the deposit. How should I handle paying them back if they both were ...