Thanks for such an elaborate response!

My most memorable responses were the prospect was going to open a daycare, while my second favorite was an AirBnb. - Leave adequate time to screen people and talk to references.

However, given the investor-heavy saturation of Memphis’ residential options, my efforts have not amounted to any real results.

Don't be negligent, use solid leases and maintain good liability insurance.

Nothing turnkey on the MLS will positively cash flow for you today, and EEV is a strong community than Morningside (read: higher prices).You have enough capital to do BRRRR deals in Detroit today that would put you in solid areas where you'd cash flow.

Again - Thank you for your response!

Thanks for the response @Jake Andronico.

Is this something we draft ourselves including outlining roles and responsibilities, are there templates out there to use, or should we hire an attorney?

Hey Matan, if you work with a solid investment focused agent, they can source you deals and connect you with the right team to be successful. 

I assume the answer is yes, since the tenant(s) is/are still responsible for the property and any damage that may occur.