Rather than make it some battle you will likely not "win", make it amicable, smooth and easy with a minimum of stress and $$ lost on an eviction or trying to collect $$ you will never see.

In this scenario both myself and the other tenant would be paying rent to the LLC and I would report any income after all monthly payments on my own personal income tax.I know that there have been similar questions posted but most were a few years old and had a lot of different opinions on what was legal/best practice.

Originally posted by @Jordan Hanks:For all you Airbnb investors/managers....What is industry standard for Airbnb management fees?

Not sure if my situation is relevant to your post, because I'm on the mortgage side.

My issue that I’m having trouble getting over is that down payment money is currently yielding 5.5% in an HYSA with no risk or stress.

Although this post is 2 years old I think it may be helpful to point out that the thread seems to be discussing two different types of LOI (letter of Intent).

I was drafting my post at the same time that you were. 

Since you are in an HOA, you would still want to check the rules on that as well although that would be harder to tell while you are still there.Jonathan, thanks for taking the time to reply to this post.

I’m based in Columbus and would love to chat anytime you’d like.Best of luck and keep us all posted on your Journey!!

Here is a great blog post that will really speak to your client.