The difference between a safety line and a safety net is that a safety net (your words) can break one line and still hold a fish. 

I'm a top 1% agent.

I have found a tenant that has agreed to a relatively unconventional agreement for my furnished property in a popular vacation location.

You would have signed a promissory note as well as having a lien placed. 

Quote from @Jeremy VanDolder: First, I think you made a mistake by sending a cleaner once a month.

But you don't qualify for material participation if you are a passive investor in a syndication.  

This structure helps ensure that if one property faces a lawsuit, the other properties and their income streams are protected.

Give them the courtesy of a sit-down. 

Of course, have a professional inspection done that enters each unit and do a sewerscope.

Hi,People always talk about how they purchase a rental property, wait a few years for it to appreciate, do a cashout refi to recoup their initial down payment, then whatever they earn in the future is infinite return.But in reality, how is this truly a "recouping of initial investment" when you have to pay a 4.5% interest to take out the cashout proceeds (with $3000-4000 of closing costs on top)?