That being said, does anyone have some sample term sheets they have created for this situation that would include the responsibilities of the borrower and lender, the amount of interest for the term, time period and payback terms.

Either by text, email, or phone depending on how responsive the particular tenant is to each mode of communication.We had a situation laat year at our SFH rental when we had an estimate from a roofer about work to be completed on both the rental and our primary home.

Waiting for a response.

I've reached out on the forums a couple of times and when I get a response I also get a comment on my musical career.

Also, if they do not pick up the phone for you, or give you a call back in a reasonable time frame, they surely aren't going to be responsive to your tenants

I will be partnering with a contractor so he would be responsible for the materials/labor and I'd be responsible for purchasing the property. 

Originally posted by @George Pauley:George thank you for your response.

If the other person in the deal makes money, that's their responsibility...not yours.

Based upon your responses i think that gutting the bathroom would be best for peace of mind as I intend to keep this property long term.

Jeff, thank you for the response.