I know there are specific instances where some leeway is ok, but in hindsight this was not one of them.2.)

For instance, is it common to state to pay a flat fee of only up to $x amount in the event the seller does not cover the cost?

For instance, if you buy a cheap hot tub it will probably pay for itself if you get one or two bookings that you wouldn't have gotten otherwise and it will lead guests to choose your place even if they are not really going to use it

Check out Zen Business for forming an LLC it's pretty affordable and has a "pay as you go structure" They have a registered agent you can get as an upsell for instance.

For instance is buying furnitures to furnace the house consider part of normal management activities? 

@Cliff DurrettIn some instances the first will take a discount to give the second some money, but in this instance they are so underwater I don’t think the second will approve this as they are basically getting wiped, and they have much higher BPO’sAlso be aware the lender may satisfy the loan but not release the debt, meaning they will allow for short sale but then get a judgment to have the balance of Debt validated and still owed

And in these instances, the "fee" the pooler gets is that 10% difference, i.e.

For instance, I thought some of the purchase price for the properties were way too high above retail, or the rehabs weren’t very nice and didn’t looked rehab at all, or they were renting at well below the 1% rule etc.I took a look through Antoine's inventory and found the purchase price of their homes were in my sweet spot: $60-100k in markets like Cleveland, Memphis, and Birmingham.

The other two options require spending money that is basically going out the door to lots of fees and expenses of exiting your current house and getting into a new one.If you were just looking to move, that is perhaps a different story… If your house isn’t working for you, for instance.

I'd imagine all of these questions (like what would happen in an instance when one individual would like to sell) would be spelled out in some sort of operating agreement before purchasing any property.