Partnership operating agreements are very flexible.You could do a waterfall schedule for both allocation of income and capital distributions.e.g.1) You're allocated a cumulative fixed annual return on your unrecovered capital contribution (6%, 8%, 10%, you name it)2) Profit in excess of the fixed annual percentage return is split 50/50.Capital distributions could be something like: first distributions are to recover your capital contribution(s), then preferred return accrued to you, and finally the 50/50 profits.Food for thought. 

Lenders and any creditor knows about them and believe me they get in line first in order to recover their interests in the properties and the owners who get behind on their tax payments are given very generous terms to also recover their properties and losses.

One of my tenants was at home recovering from surgery on his arm.

A great many of those people simply have not recovered financially and never will.

They are required to pay you full rent for the month, but you likely will have trouble recovering that. 

If those same sellers would have held the properties for 4-5 more years, they would have recovered all the value from pre-crash times.

I would like to recover the rents that we are owed and switch to a different property management company that I have found.

Just because it's my first deal I'm obviously more intimidated and also feel like if I do the first deal wrong it will be harder to recover vs. if it was my 3rd or 4th deal and I have something to fall back to.Anyway, I'm actually interested in the market in Philly and was there a week ago to check out some properties, would love to hear more about what you do there.

You should be using that calculator to analyze your deals.If your objective is to recover all your cash to use for the next deal then you need to change your method of calculating/analyzing these deals.  

This is one reason we are looking to increase our rental properties and diversify which markets/states they are in so if one goes vacant or rental market drops, we have other rentals bringing in rental income to help us until we can turn it around or hold it until market recovers.