there is no reason to be a hard *** - just let the guy stay a few extra days and charge him for those days.

The biggest flag was where you said your friend can't claim extra income due to visa restrictions. 

If I had the extra money and felt that down the road I’d still be able to recoup it either through rent, or during resale then I’d proceed.

Pro: Partners can bring something extra to the table, such as capital, connections, different prospective and project experience.

If you have access to a great deal flow and are being held back by capital, then I would say you can grow that extra $15k at a quicker pace than the $150-80 = $70/mo net opportunity cost cash flow.You can objectively calculate this with opportunity cost calculations, rate of returns you're seeing, and inflation numbers.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

My mind frame now has evolved from two years ago, and I now see the extra income as enabling greater security reserves, providing the ability to hire repair folks instead of DIY which saves personal time, and to improve the property more beyond the minimal.

We are looking at larger 3BD/2BA for opportunities to convert extra rooms/finished basements/garages into extra beds/baths.We noticed if the rent is about 0.5% of the total property value, we will be about breakeven for pure cashflow at the following assumptions using BP's Rental Calculator (e.g., $500k property requires ~$2500 rental income to breakeven): 5% CAPEX, 5% vacancy, 5% repairs/maintenance, and 8% property management (we have something worked out with our property manager)Here are our questions:-Would ~$600/room be a competitive rate?

As well, being a single resident of my home, I am also going to try the house hacking method and rent out one or both of my extra rooms, depending on what ends up working out.  

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.