It is best to hold any adult occupant (age 18 or older) accountable by making them "jointly and severally liable" as a party to the rental agreement.

Please, inbox me with some specifications; I'd love to Joint Venture with you to see what we can work out.

Everyone took the post for what it was: a genuine question that needed some help from the community.

Even an appliance failure would have been a genuine hardship.I negotiated for the seller to get her that warranty and sure enough, her dishwasher croaked within a few weeks.I also offered one when selling my own home last year.FULL DISCLOSURE - I have no relationship with HWA except recommending them to clients and as a customer. 

So far from what I have found is that you could pay an attorney to petition off your 3/8 if that makes sense.That maybe costs $2500 or so where I am....for the attorney fee....probably need to pay more for a survey, so the other joint interest owners know what you have and you know what you have.   

I think the best investments are ones that you passionate about or have a genuine curiosity about. 

It's not the cooking...its the cigs and joints they are smoking inside, or the batteries they pull out to use in their kids toys. 

great questions.. by building a team we simply go back to how turnkey was done pre 08in CA this will be quite difficult as you will have to build all the components of the teambut in time lines1. you need refi lender all set up2. you need market identified and rehabber or turnkey out fit your going to work with.3. you need HML who knows and trusts the refi lender AND the turn key out fit. once you have those in place turnkey outfit presents home to you and HML.. its a joint decision to move forward.. ( remember your refi lender has you already pre qualified so the property also goes to your refi lender to start the process simultaneously to the HML going into force.put up your down payment money HML closes and HML does rehab draws to your trusted turnkey vendor or flipper.. once all done your refi lender who has your file already to close subject to a 442 orders 442 and you close... ( refi)  HML gets paid off you get the house.

He DM'd me and seemed a very genuine person, both polite and insightful.

Your IRA could joint-venture with your sister or your sister's IRA.A project such as you are considering will involve a lot of transactions from the IRA.