I handled all repairs,diagnosed existing problems, performed all duties in the remodeling/repair.

It has links to your state laws so you can (and should) read them for yourself but it also includes summaries of important laws like how to handle security deposits or evict tenants for failure to pay rent.

I am partnering with someone and wanting to know what is a fair way to handle the split of profits.

Once you assign the contract to them they will handle from there and get it done if it’s a good deal.

I keep about 10 months worth of rent available at all times for my homes... and trust me, the $1,000-$2,000 of annual cash flow is likely not going to build fast enough to handle your first vacancy.

They also paid the rent up until the day of removal and then left me the deposit to handle cleaning. 

I might just be out of luck.That said, is it possible to have each house owned by an LLC, and to have a -SINGLE- management company that handles all of the financials for each LCC?

With good PMs (Knock on Wood) there really isn't much that needs to be done by me other than Federal and State tax reporting, and I can handle that fairly easily (was once a CPA in  a couple of larger tax practices).

Do you have an Attorney handling this for you if so contact them today? 

If you take the time to do proper due diligence, you should have a pretty good handle on what your experience will be like before you invest.All the best,Jack