(more legal fees, business fees vs. renovations).Research Points: §1.263A-1T§195(c)(1)Ervin E.

If you are hiring a legal licensed contractor , he will provide you with a contract . 

If a guest stays for one week in July, the owner can't legally rent to another guest until August and must leave their unit vacant for three weeks.

Weeks later, it was communicated to us that the underwriter wouldn’t accept the ones signed by only one of us – legally binding for LLCs – and required we send amended copies of leases signed by both of us.

You are perfectly legal and right to do so.

If you don't sign the contract and hire that agent, then they legally shouldn't be working for you.

Will they "check themselves" from bad behavior when they see a professional company with professional services, legally reviewed lease, etc. managing their day-to-day?

I ultimately invested $65 cash, $5k in legal fees, and $9.7k in operational expenses while owning the home, and walked away with $17.3k after a judgement.What made you interested in investing in this type of deal?

Obviously one would still need legal and accounting support. 

To protect our rights, we would definitely deliver a formal 5 day notice (Wisconsin Legal Blank), but at the same time indicate that we are looking to collaborate to find a solution.