As usual in most responses in this forum you are getting conflicting information. 

Thanks for his response, super helpful! 

Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.

Here’s a breakdown of the key elements you should include in your subcontractor agreement:Subcontractor’s Information:Full legal name of the subcontractor or company.Contact details (address, phone, email, etc.).Project Information:Internal Project ID or Purchase Order Number (if applicable).Project address.Clear identification of the specific scope they’re responsible for (e.g., electrical, plumbing).Project Timeline:Start Date: For the portion of work they are completing.Completion Date: Set realistic deadlines for their tasks, adjusted to your overall project schedule.Liquidated Damages:Specify a daily amount to be deducted from their final payment if they fail to meet deadlines (with exceptions for factors beyond their control, like severe weather).

If you need income that'll be a certain set of options if you're trying to free up time and not be responsible for property management because you're planning to travel in retirement that'll be a different direction.

Becoming a property owner.The hardest part about this right now is underwriting deals, remaining patient and disciplined.Outside of that, the actual details of managing the property are only hard if you do not have systems in place, delegate responsibility, and don't fully comprehend what physical asset investments require-- capex & opex heavy.

Only allow inspections after the contract is signed and locked in (if possible).Ultimately, gauge the buyer's credibility—are they responsive, experienced, and able to close?

Quote from @Kandice Morgenstern: Does anyone have a good lease clause to outline responsibilities and expectations during mandatory evacuations?

For example,  providing a heating source for your tenant is your responsibility as the landlord. 

I see people without capital no experience or capital being taught to “help” desperate homeowners by tying up their property in a contract they have no way to successfully close without finding someone to pay more; costing the homeowner behind on their mortgage payments to lose valuable time that can easily lead to foreclosure; I see a program taught to students to take over a property ‘subject to”, leaving the seller unable to qualify for further mortgage financing, responsible for a loan secured by a property he no longer owns, and all held together by someone with 0 experience, limited or no capital, and no liability.