It would be ideal to get some sort of large study done on this.Furthermore, if you sold in a buyer's market, your thought may be skewed.If your portfolio was in a market that was declining in value.I am not saying that the above situations applied to you but it would be good to get a large study on this.Furthermore, if we are talking about more expensive homes being a better investment?

They have no skin in the game, they'll just move on to the next owner.

This sort of deal could go south very easily and for that reason I stayed away.What would you do? 

Quote from @Nik Farooqui: Hello All-My name is Nik and I am sort of making a comeback to real estate investing.

The first being - don't bring your friends or family into the mix :)Since it sounds like you're pretty solidified in your friend moving in, and it could be a good first roomie, so just to get your feet wet... i'll double down on Laura's advice - do a lease, for the legalities, but i also highly recommend some sort of written (we call it a) Room Mate Agreement.

And sort them for the most recent reviews. 

I've generally gone out for those sorts of trips unless you really trust the team to have a sharp eye as a lot of the styling happens once everything arrives and you have to make it fit together. 

Forming little groups in the background to down vote certain individuals comments based on skin color, or religion, or perceived political leanings seems like something we could all do without on this forum.

My opinion is they are not treated RE in a business manner, because most business growth is built on some sort of leverage.

At the end of the day it generally becomes cost prohibitive unless some sort of grant money is released.