But, there is tax related paper work and maintenance cost every year that can cost a lot too. 

The GC is the last person to get paid on a public job and I did the prevailing wage paperwork for every subcontractor I hired.     

Personally I have dealt with "shoe-box-accounting" landlords before with the most unprofessional organization of paperwork, this is not that, without a doubt.

Typically you'd sign paperwork (i.e. note, deed of trust or mortgage, personal guaranty, etc) that gives the lender certain rights, explains the terms of your agreement, obligates you to make payments/do certain things, spells out what happens in the event you default, etc. 

Traditional mortgage - best rate, 30 yr fixed term, 75% to 80% LTV very common, must be in your own name, tons of paperwork, W2 income basically required to support it.

I think the first thing I would want to know is if there was any kind of contracts or paperwork stating as to who was responsible for what amount of repairs and maintenance?

If they pay it would be after a long paperwork battle.However, it's a better chance they would pay than the tenant!

It did help me learn about the paperwork that is required in the closing of a real estate transaction. 

If you have not filed paperwork for Summary Ejection, do so now.

How do i fill out the paperwork to ensure the early withdrawal gets accepted by principal?