Guest takes more care of the property, since you,  the host, are the only judge to decide if you retain or not the deposit in case of damage or issues.Another Good: You can write in your contract that non respect of rules may lead to lose some of the deposit: Like noise, or a very unclean check out, etc...

@Michael Noto: Great observation that "Good PMs manage properties in good areas ...good PMs do not deal with bad areas for the most part.

Is it true that most companies retain tenant late fees?

Just my observation. 

But, for the time being, smart money will buy a Tesla Plaid or a Model 3 which will soon be outlawed for its dangerous 0-60 times, but may retain its configuration and become valuable.

I want to buy a new private home and use my current primary residence equity (plus some cash) to buy a new primary house cash and then sell the old one.So, I am looking for a HELOC with little to no closing costs, as I will retain the money only for as long as I am selling my old house after buying a new one.Any advice?

From my observations 90% of those who post on the forums about asset protection cannot articulate the risks they believe they are/must protect against with their recommended entity formations.  

You could consider a Land Contract, which retains an ownership interest on your part.

Let us know if you're still looking at this one and what you think about the observations Dave pointed out!

he said after 40 years w his clients he's observed that its easy to get into real estate investing and much harder to exit real estate investing.