While BP has a rent estimator as does rentometer.com (both allow a few free uses, I believe), I agree with @Zachary Deal that your best bet is to seek out guidance from either the listing agent or a property manager well-versed with the area. 

     Just a reminder to everyone doing short term rentals to check with your county to see if you need to be paying a hotel occupancy tax.

My current solo-401K plan was being supported by Quest, but they have decided to STOP supporting solo-401K's.

As for your lease, I'd be careful with what you are doing there.

In this case the current financials on the property aren't great(rents well below market value and the owners family living in several of the suites) so the lenders will likely not provide the funding based on poor NOI.  

That might not be a bad practice - I don't know if there's a template for that. 

McKinney, Allen, Plano, and even farther north up 75 into Sherman can be good too.

Certain expenses are all lumped together for the sake of the P&L like insurance and taxes and others like repairs and maintenance can be viewed collectively or by individual property.

It can be a simple one page contract b/w you too at an agreed upon rate.

@Kristie McCleary You may be surprised.