However, for personal reasons the tenant is no longer interested in remaining in this rental and wants to be "bought-out" of their "ownership".First and foremost, a verbal agreement just isn't going to cut it and getting a signed legal contract is the first step.

However, because we don’t have much experience with this matter, are relatively new to being landlords, and come from a different culture, we wanted to understand if there are any particular considerations we should be aware of.I heard that it is illegal to ask about religion, national origin, and other personal information when we talk with tenants, even if we don’t have any bad intentions or discriminatory purposes.

A good PM can turn a mediocre investment into a solid return; a bad PM can ruin a good investment.A good PM can also help you narrow in on the best neighborhoods, cross-check what your REALTOR tells you, and line you up with solid contractors.I'm biased, but I don't think there's a more important person to have on your team.

Personally, I would avoid any sort of Airbnb arbitrage.

It means an extra call/text for whoever is giving notice or letting the person in, but it will make sure it doesn't happen again.

I have personally seen subs who specialize in storm water management systems as well if that's something that is necessary.

You can lock off a closet or two for your personal things ("owners closet").

@Bob AsadI personally would not. 

If the property isn't in an LLC, I pay everything from my personal/that property's bank account that may be in my own name.

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.