Many travelers purposefully decided to take a few months off while the hospitals and agencies decide to pay appropriate rates again.

At this point the rental profits will revert to being split in a true 50/50 fashion after expenses.Profits will be paid out monthly, quarterly, or annually.Legalized through a 50/50 LLC, operating agreement, and real estate partner agreement.My question is this: what interest rate is appropriate for the "mini mortgage" that I'm taking out with the cash partner?

@Scott Mac the animals were taken by animals control and are being rehabilitated in foster care - that was my first question when I heard about it as well

The most important thing they can do for you is give you an ACCURATE VALUE of your home so you can set an appropriate list price to sell your house quickly and maximize your return.

What is the appropriate way to contact tenants about the change, leave a note under their door or call?

You're going to rehabilitate the property through renovation and get it market ready. 

Thus, I need to structure the appropriate entity.  

But after raising rents appropriately and making improvements, this will just get better over time.

You personally go and do a plumbing or electrical job on somebody else's house and get paid --- you know (I think) that that requires having a license...Enforcement would be the appropriate local municipality and/or State department (there are different names for them...). 

Besides this issue, the location and house in general is everything we had hoped and planned for.If this is not the appropriate forum, please let me know.