In the current arrangement, when she hasn't paid, should I be sending 5 day notices in her name or the absentee tenant?

I also want to know exactly how hands of the third party managers make this arrangement?

For instance, if we agree to commit 10 hours each week to management duties associated with a STR and I hold my end of the bargain, but my partner doesn't, I wouldn't be too happy with the arrangement. 

If distributions are considered return OF capital, then LP capital account is reduced and pref payments reduced accordingly.I repeat this is a very complex issue and all the details of the deal matter.In general, I would say return ON is a better arrangement for the LPs and logically there worse for GPs. 

It’s just more common that we follow the rules and regs in our contracts and the title company is the neutral third party that sees that the contract is executed as written.If you are a buyer outside of Arizona, the title company will arrange a remote signing and send a notary to your home or office or local coffee shop to get your pre-closing paperwork signed.Actually you never have to step foot in Arizona to buy a property here.

I have tons of interest in this particular property, but this seemed like a fantastic low maintenance arrangement in some ways.  

Would this arrangement be room by room? 

PLease DM me and we can arrange a call to dive further into the details.

It is common when the deal is bigger than your normal practice and the lender will approve the loan if another party with more experience will join the LLC,  some call is "sponsorship", if you have experience with that, please share how did you form it (tax wise**) ?

Hi all, one of my tenant left few month earlier then lease edns date, she moved out and turn in the key to us for showing, I told her she would still be responsible for rent until we find next person to take over her lease. she didn't respond to me on email but arrange to move out date and provide us the key.as today we find a new tenant for march 1st, however she( the old tenant who moved out earlier) did not pay for feburary rent. so i emailed her and she say she doesn't live the place anymore and she gave me the key so she is not paying the rent for a place she doesn't live.I have her 1 and half month security deposit with me, now should i go ahead and deduct one month rent on deposit and refund the rest?