If they pay late and only decide to pay the monthly rent, does the site have a way of prohibiting them from sending partial payments?

Seems like the $30 a year is still the same but I guess now you have the added inspection cost plus any remediations they decide on.

2nd floor apartment of a 100 year old house, someone decided it was a good idea to pour concrete between all the floor joists, thereby rotting them out.

I guess you could say I am looking for logical "next steps" in exploring asking people to invest with us (how to decide terms, etc?)

I think many professions have a leverage if they decide to become real estate investorsProperty management - as described by DavidAccountant - we understand Profit and loss statement, cash flow statement etcgeneral contractors - they will know estimated costs required to rehab a property.The rule is use your profession to become a real estate investor.If there is a skill that you are not an expert in - pay someone who knows how to do it better.

I don't know too much about short term rentals other than based on the research I did I decided I prefer long term rentals. 

Fortunately despite the delays I was able to stay on the 30k budget for the most part, and at the end I decided to go a few thousand over to do granite countertops instead of formica and to do that nice mosaic backsplash so that the house would have a wow factor, which I think had a lot to do with getting it sold so fast!

You have to be somewhat 'seasoned' to do this as you are on a deadline to decide and if you miss something and go firm, you open yourself up to a world of problems.I personally don't do this but there those that do.Good luck,Oren

I've decided to refocus my efforts into something that is more physical, hands on, and a potential future career for myself & family.

Even if you decide developing it is not something you want to do the value will only increase as housing damnd increases because of the new jobs.2) - Do not go to a contract and start talking to them.