Some common paths are single-family rentals, multifamily units, house flipping, or short-term rentals.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Hey Lue, very common and sometimes you might see this called a "kiddy condo loan". 

If the tenants have a pet, like a dog, it’s worth discussing, as pets are a common source of fleas.

I'm trying to stay level-headed and unemotional about it (it's not going to kill my deal regardless), but this doesn't pass the common sense test.  

People if you truly want to become successful, you seriously need to learn how to use common sense.Now this is me:All these leads are motivated off-market, organic leads.

It’s unfortunately common for property management agreements to have those hidden fees, but I’m proud to say that my approach is all about integrity and transparency, and I'm sure many others are too. 

This is made possible by them setting up a Tenants In Common (TIC) structure.Has anyone done this before?

Your situation is surprisingly common.

@Kevin Hubbard, There's several commonly used tactice 1.