If you have a $5k judgement, and you can get a guaranteed grand or two from an agency, that's not a bad deal *and* you have the satisfaction of knowing they will hound this person from here to eternity.  

Id think the toughest aspect is making sure folks mesh well and either a cleaner is paid or there are set instructions for cleaning on common areas. 

I'm personally not a fan of 3/1s for MTR.

It might make more sense to own the property and lease it out to an organization that does it and you could do a percentage lease rather than a flat monthly fee.It isn't for me but I'm more of a passive person.

I don’t plan to use the MIL for personal use. 

I think the methodology of going out and solving peoples problems is timeless, but because the paperwork and instructions suck, and the material being almost 20 years old, I'd pass on this one.

An exception may be someone with a VERY strong personal financial statement. 

I just got back from deployment about a month ago and have focused a lot of my spare time on catching up on personal matters and setting up my business.

The fee gets you listing maintenance, a professional person available around the clock to communicate with your guests and monthly/end of year reporting.

I have nothing against smokers personally, but do not want that smell to be imprinted on my property, long after they are gone.