It would be much more cut and dry if I had a home on a lot, but really limits my market.

If they do, you can cut them a check and dismiss the case before it ever gets to court, until that time they can pound sand!

Instead of sharing cash flow proceeds I would recommend offering a guaranteed IRR (for which you are personally responsible) and potentially a cut of the equity in the property. 

In the past, I have employed them through recommendation from my acquaintance or neighbors or just through yelp but the current tenant is a little bit "sensitive" (paying rent timely and not trashing the place so no big deal so far) and has repelled many of the repairmen that I have used in the past as "unprofessional" (they can definitely get the job done/fix the problem but the tenant will dispute with them for e.g. being late, not good at communication, or "cutting corners").

We had wired the whole house, that night it got all cut out.

There are new pre-fab firms doing exciting stuff with innovative designs:http://methodhomes.net/http://www.projectfrog.com/There seem to be a lot of benefits such as building in a controlled environment, cutting down construction time (which mean getting to market faster, lower construction loan interest, etc.), faster permitting.

They even give you html code to cut and paste into craigslist:-) Pretty slick looking posts, too:-)

I like the cut of your jib young man because it sounds like my plan.

The bottom line is this. take gross rents, cut em in half and take any debt service out of that.

I see that corporate rentals are usually apartments, I can try to experiment with single family homes for corporate rentals, I'm thinking everything included (utilities, grass cutting, etc).