They are not sustainable as they are today, by 40 years out who knows what might exist.Regarding the possibility of setting up a PM company to separate income sources, you may need to look into legality of that. 

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/proAlerts can be really helpful too: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

IMO, the escalation clause is not without pitfalls and potential legal questions, but I still choose it at times when representing a buyer.   

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.Discounts on some products and services are offered to BP members: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

Many here have suggested collecting a "non refundable pet deposit" - NOTE that is not legal in CAAll deposits are by law, refundable.

have you check out the legal shield episode on fun aint freehttps://play.google.com/music/m/Dlqn7xgm7a7frnyqb75dknhtlde?

Each of you is a legally consenting adult. 

With retail you have mom and pop, regional, and national tenants.Often mom and pop tenants can't afford attorney representation so try to do things on their own to negotiate a lease.Owners could try to write anything into a lease but doesn't not mean it is legal or enforceable.

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.If you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/renewsblog/Alerts can be really helpful too: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

With regard to STRs, when using cash basis, you don't really get a good picture of how your business is doing and prepaid expenses can make your financial reports look really inconsistent; large income/expenses one month, then very little income/expenses in another.