The complaint must describe the steps you took to find people who should be parties to the lawsuit.

You're learning about the eviction process, tenant screening (never "word of mouth" again), the power of a lease WHEN not IF a neutral third party needs to be involved, tenant/landlord laws, and managing tenants who don't care about your business the way you do. 

While that may sometime be true, full disclosure to all parties should eliminate any ethical or moral concerns (imo).  

Looking to see if anyone has a basic template of an operating agreement for a business partnership of two parties involved in the fix and flipping business?

Now that is taken care of; time to address the renter's insurance.As mentioned by someone above, you can be listed on the policy as insured or interested party.  

Leveraging equity does involve some risk, so it's important to have a sound strategy to avoid overextending yourself.

Its doubtful that the municipalities involved would sign off on a condo conversion or subdivision, as their aren't many rentals in the area.

We both knew we were aligned in our goals and had a clear understanding of our respective roles in the deal from the outset.If seller financing is part of the equation, look for someone who’s not only experienced with creative financing but also understands how to manage the potential risks involved.

There are actually THREE kinds of subject to transactions1- subject to existing mortgage without lender approval2- subject to existing mortgage WITH lender approval3- subject to existing mortgage as part of a seller financed wrap around mortgage.with #1 and #3 it’s in everyone’s interest to utilize a third party servicer, who collects and then distributes payments.  

The best part is, Wagner and Werner are brothers!!