Would it be reasonable, and allowable, to charge a $50 administration fee to ensure the lesson sticks and remediate my wasted time?

You can reduce some of the risk here by ensuring you have a fixed rate loan.

This will ensure my bills are covered and sustainability and growth will take place in my portfolio. 

I would also get copies of the lease and ensure that you get the security deposit and depending on when you close, prorated rent. 

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?.

What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuitsHow familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?.

As an investor it does add some costs and it does require you to either do more as a self manager or ensure you have a property manager that is one top of it. 

There are more buyers out there than there are deals in just about every part of the country.Stick to the MAO formula and it will ensure you have a good deal.MAO = ARV(.70) - RE - WP 

The will often end up using the address of the property to ensure they can keep things straight while also protecting their personal name in the process...........................................................................

I'd like to create a contract and/or entity that will allow us to:define the equity split ensure my original funds are returned upon sale or refinancehold funds for capex and repairsdistribute positive cash flow on an annual basisdecide buyout clause in advanceWhere should we start on making this happen?