I do have my own spreadsheet that I use for detailed flips & rehabs. 

Put something in writing detailing all the improvements he has done that states the improvements stay in the property when he leaves and he will not receive future compensation for said improvements.4.

If you have questions about how to find a good PM and what to ask them, I wrote a blog post with some of the details you'll want to look at, you can find it on my profile. 

Best of luck, and feel free to PM me if you have more specific follow-up questions or details to share.

However, since airbnb income can be different each month, would it be legal to set up that kind of "rental agreement" with my S-corp in the eyes of the IRS?

Does anyone know the details of bidding towards a 2nd mortgage of a home?

@Mike Loy, As a realtor you qualify for a Solo 401k, which has many advantages over self-directed IRA, here are few:Contribute 10X more than into an IRA (up to $61,000 per year per participant)Access up to $50,000 from your retirement account tax-free and penalties-free at any time prior to retirement via participant loan featureExempt from UDFI tax on leveraged real estateInvest tax-free using Roth 401k sub-accountCheckbook control without use of an LLC Custodian is not required = no custodian, transaction or asset based feesYou can read it in more details here:https://www.biggerpockets.com/blogs/2810/21298-sol...The bottom line is that if you qualify for Solo 401k - it would be way better than an IRA.

So I will give some details and some analysis I have to this point.

Used him 4 times...hes the guy realtors hate because he is so detailed.

I included a picture of the hud on my blog post for detail.