With vacation Rentals, we can easily bring in 50k+ a year, but we only see a fraction of that.Cleanings, replacing supplies, we are responsible for all utilities, etc.

Common in KC and I think other parts of the midwest, just can be hard to get both sides since they don't always come up for sale.

I may be partnering on a flip with someone, it's my first project and I'm curious about what common partnering terms are.  

Being in Property Mgt I drive alot, so I have the opportunity to listen to all the different podcasts, which has brought a wealth of ideas and information that I can utilized. 

I also read posts by others online who said that this is very common in large cities like Austin/Houston and college towns and that they advise to just keep renting the room and not cause any disturbance and that it will be fine as long as the landlord gets paid the rent monthly.

The thing is wasps are quite common in Denver and when leasing the property I specifically elected not to pay for any sort of regular Pest control for insects and bugs, such as Orkin, etc. 

#1 Great work and kudos for utilizing your resources.

It's listed for 500K that comes with long term tenants that pay utilities.  

But, carrying the house for a year, plus utilities cost us almost 10K in out of pocket expense, then all the additional rental income missed over that year, which would be about 8K we really lost another $18k. 

Outside of those issues, the house seems pretty decent, is in an up and coming neighborhood and the rental income will cover monthly expenses (M/I, Taxes, HOA+Utilities) comfortably.