We found the PM has been burning through our money (almost $2,000 for 2019 plumbing bills, due to hiring people on weekends for simple things), not calling us in a timely manner when we had an unrelated issue cause water damage!

I've not had a late payment or any damages (knock on wood).

Most general rehabbers stayed away from this home because the foundation was so badly damaged.

Would it be worth taking on additional risk, like a renter who caused trouble or damaged clubhouse property?

What if he left the property damaged? 

The document transfers the liability for damage to them.I rent W/D to my tenants. 

I would be willing to work for free during my 3 weeks off with the prospect of working part time to full time.

I'm not sure how old you are but you must recall college life, particularly off campus living. just a few concerns:  furnished units have to be covered on your insurance which will effect your premium.you gotta be mindful of damages to the furniture in addition to the rest of the place. not everyone will havesticky fingers but be prepared for the occasional theft during transition at the student occupied units. the bedbug epidemic comes into play particular with the more traffic. again, its my coin. feel free to disagree.kudos,Mary

I'm having a hard time trying to come up with a value for turnover and damages.

Damage to vehicles and labor is another in full service automatic machine units.