The neighbors sound like they will not sign an affidavit with the police that they saw him breaking and entering the property.The police generally will not act on here say as it is not concrete enough and does not give them a paper trail to fall back on if things go South.No legal advice

Gurus love to teach BS, and everyone falls for it.Joe Gore

Then you let it fall into foreclosure.IIRC there is some exception, but I don't recall the details.  

Even though no one is complaining, they may be silently wishing the motorcycle was not there, especially since it is a bit more crowded now.

With you doing renovations in the fall into winter months, you may experience some set backs.

Since you have had the house for 2 years you can probably still get the pmi to fall off without the refinancing. 

The pmi automatically falls off when the loan value reaches 78%.

To echo your concerns Jon, triple net investments can certainly fall apart quickly in the event the tenant vacates.

I'm also not sure if this falls into some syndication category and becomes very complicated.If anyone has any experience structuring such a deal, I would really love to hear the details.

What happens if your buyer falls out?