Thus allowing you to set automatic late fees in case the tenants doesn't pay before the end of grace period. 

@Katie Balatbat is there a minimum time period before the TIC needs to be created? 

But if the market for large STRs is thin, the basement might not add substantial value.Selling: Selling could free up cash for other investments with better returns, especially if you’re uncomfortable with the low ROI and management required for STR.It’s a tough call, but if STR potential is there, it might be worth a trial period to see actual cash flow before committing fully to the basement investment.

Keep in mind that there may be legit charges associated with termination- for instance, they may need to hold some funds in escrow to cover lingering utility bills or cleaning after that 30 day period. 

I am on the Hospitable trial period. 

You forget that he’s going to be out of country for substantial periods of time.

Either define a set period of time that you will serve as a manager for no cost and then collect xx% of revenue as a management fee before splitting profits.

You can do as little as 0% down and maybe even get money back at closing if you can implement seller credits into your offer during the inspection period or prior to going in contract. 

Can you please share why or why not and how the performance played out over a longer period of time?

For instance, not knowing what type of panels are on the naughty list in the eyes of the lender will trip you up during a DD period if you haven't underwritten your line item expense of replacing them.