Because the cosigner is not responsible for mowing the lawn or reporting maintenance issues, they have no rights to the rental, and I don't want to communicate with them about anything but the money. 

This may mean picking up something that needs work or something that has a unique issue that turns homeowners away that you might need to fix at some point, but it's possible to still make money in GR.

The only issue now is what Raymond mentions above...most lenders require reserves of 3-6mo for approval on their investment loans.

Navigating tenant relations, especially in an owner-occupied property, requires a careful and respectful approach.

This simple chart shows the PE multiple difference/spread between SP500 and US Equity REITs, typically REITs more expensive than stocks but now at lowest level/price since GFC-2009, so from a relative value perspective of where to invest a dollar, this is a great time to invest in real estate, thinking long term.

If it's an issue of paperwork, fix it and you'll be paid.

They are getting what they really want, and you are crafting the deal to where it will still make sense for you.One potential issue is if what is most important to them is also important to you.

This can give you insight into what to expect and whether any issues might arise.Lease Terms: Review the current lease terms carefully.

First, I requested an amicable parting of ways which the PM agreed to (multiple differences of opinion, cleaning issues, etc.).

Or are there related party restrictions on the exclusion tax benefit?