That is desirable so that it creates alignment and it also helps to ration equity.Let me know if Matt ends up being a good contact.

It feel that it is prudent to align your lease termination just prior to the start of the next fall semester.  

This is a really interesting topic, I had encountered challenges when I decided to make my first investment, I always thought it would be fantastic to have some similar minded, similar positioned individuals I can align with and just share honest and open information.

Suzanne,If you want to properly align the risks you are taking with your expectations, then you have to meet the people you will be relying on to manage your investments. 

The point is, whatever way you choose, make sure it aligns with your values and goals, and throw your heart and sweat in it.

But since you don't have written contract, the contractor can demand payments for what he believes is work already completed and you don't have a whole lot of recourse since you didn't have this payment schedule pre-arranged... its not unusual to have 3-5 payments over the course of the project that align with milestones of project progress. so divide the entire project bid into thirds or fifths and pay out based on what your contractor agrees with and work these out in advance next time.

I think it helps align the PM with the equity provider to find good tenents and minimise vacancy and damage, when incentive is usually other way (PM makes money for finding new tenants and usually takes a piece of maintenance charges).How would you value the deal for the 2 partners?

I also want someone in the remote location to be aligned with me financially and in other ways.

Maybe equivalent to a late fee.Find out if the tenant gets paid every two weeks or on the st and 15th and try to align it to that.  

Their incentives are not aligned with yours.