They have have done a great job outlining all the possible things that can go wrong and what  can go right.  

FTR, I'm doing exactly what you outlined.

The PPM and Docs are customized for your project so you will need to have it outlined upfront on the structure and payout (is it pref equity, debt and the capital stack etc).

I think a return on invested equity analysis outlining a few scenarios with my models would answer your questions. 

Quote from @Jamie Banks: Here's a few things I include in my MTR lease- Utility caps- Outline of the furniture that is included- Details regarding which utilities are included- Outline who is responsible for lawn care / snow removal- List of fees (admin fee, cleaning fee, etc) Hi Jamie! 

The biggest piece to me would be understanding how the priorities of those share classes play out, which should be outlined in detail in the sub docs and waterfall.  

@Sang Kim- I am sorry to hear this....DId  any of the  paperwork provided  outline if the  6K fee  was rendable  ?   

Work with a real estate attorney to draft a formal agreement that outlines responsibilities and protects both parties. 

I appreciate the outline.

., repairs, management, communication with the seller).Exit strategies in case things don’t go as planned.When you do find the right partner make sure to create a joint venture agreement that outlines all of this clearly.