Equipment-the quality of the equipment can make or break you.

For perspective, a 4 unit building just came on the market for $2.2m, all identical 1 bed, 1 bath, 845sq.ft. units.What are the tenant laws out there?

Aloha,At a minimum create an addendum to add/remove the relatives to the Rental Agreement at each change, and copy ID/Passports to confirm identities.

It is good to learn how equipment in your units work, so you can trouble shoot and take care of some minor things on your own.

Invest time in education to navigate this field and equip yourself for success.● Differentiating Yourself from the Majority: Aspiring investors seek knowledge and growth, setting them apart from those following traditional paths.

I'm also not sure why the husband thinks he's entitled to a cut of the profits, unless he's paying an identical cut of the expenses.  

I also had about $500 in equipment repair to do but nothing major.  

Renting the equipment and buying paper can get expensive but it's cheaper than hiring someone usually.  

I spoke with him briefly and he sent over some initial documents but I was skeptical of the process and giving out my personal information due to me having a good score and the potential for identity fraud.

@Aaron Trommater My expense estimates are nearly identical to yours.