Background checkCredit checkPast performance.

After that, you assign the option and they exercise the option. 

@Dennis Boettjer be careful about basing your decision solely on past deal performance.

After nearly 3 years of operating history, I'm concerned that the properties are not performing well enough to warrant continuation of the venture, and I'm considering selling.

Ensure your records include details of any hired help and the tasks they performed.

Here's a bit of background:I have over ten years of experience in real estate.I've bought and sold hundreds of properties in the past two years.I have six performing rental properties and aim to expand this to 50 by the end of the year.

In the meantime, maybe look into refinancing options for the short-term rentals to access some equity, especially if they’re performing well.

For your property to perform well, I would want it to rent for around $1800 a month to cover expenses and provide some cash flow.

BUT, please be aware of the followingMissing interest payments on a promissory note is not necessarily the result of a fraud, most often it is simply the results of a poorly performing business.  

If someone wants to host MTR, STR, whatever, they should start their own management company, not try to use this model where they can make additional money off of an owner if a property performs well.