-------------------------I realized in the middle of writing this response that there was simply no way I would ever do this, even with an iron-clad agreement. 

Invest in as long as it takes you to write a check, do a wire transfer, or even an online bill pay4.

I'm not sure I would get to cute trying to squeeze every time out of it now with a lease that might cause you issues in the future, but the scenario you describe is common and probably smart. 

The investor wants me to come up with a few options for how we can partner on a future deal (coliving home in the Cleveland market).

When you file your taxes at the end of the year the accountant is going to ask you for your receipts or what and how much you want to write off using deductions.

This kind of thing happens and now would be a good time to negotiate and add to your agreement how it will be handled in future.

And I hope that is more future readers of this post, and on BP. 

That will be a future option we look into with multiple properties and tenants but we can handle this one for now.

I have a couple of people that this has happened to, and you need to have it in writing and tied to the property to make it work. 

I want to have more rental properties in the future and could definitely use that income to help fund those, but with the interest rates being higher, it makes me nervous.