I work heavily within the Asheville market and would love to connect with you and learn more about your investments. 

It is currently an Excel spreadsheet (which works best for it) but can turn into Google Sheets or Apple's Numbers also (although the formatting may be thrown off with those options for the graphs).

When not allowed:-The entire outstanding balance including repairs, utility, unpaid bills and other charges and the outstanding rent for the lease duration is due immediately.XV.

and "How can I employ a strategy to make this property work?"

It's a long term relationship that you'll want to build so might as well do go with someone you enjoy working with right from the jump. 

The property is also in a desirable location.Do you have any recommendations for legal protection or any professionals you've worked with that you would suggest? 

Reason being, if you are challenged, you have an invoice and payment to prove this work was done from a third party. 

And, as Nathan noted, you are likely giving up huge appreciation potential, which will likely never be replaced by cash flow.But at the end of the day, if you are in a declining market in LA and are able to find great deals in higher cash flow areas, taking into account the likelihood of needing to outsource everything and additional travel costs to visit the properties a couple times per year, and you don't really care about appreciation, then it could work for you.  

6-7k is annual cash flow.If so I would make it a LTR since the STR is not much cash flow and a lot more work.You'll likely be the one doing all the work for your partner.

We can finish the work in 8 weeks.