Any specific clauses that should be included in the case someone bails and the other 2 have to be responsible?

But, if you are not a professional REI, one adjustment I would make to what Katie wrote is that you would report the income (and deductions) on Schedule E (for rental real estate) since it is passive income, and you wouldn't use Schedule C. 

This is a snippet from an article written by Onera Group.Short-Term Rental Analysis in Okaloosa Island, FloridaThe base of our short-term rental analysis is outlined below:First, we will identify areas in Okaloosa Island that consistently experience high demand for short-term rentals year-round.Next, we will narrow our analysis down to a specific subarea, considering factors like occupancy rates, average stay, daily rates, and annual bookings, among others.Then, we will identify the precise characteristics of top-performing listings in this subarea, including property type, number of bedrooms, bathrooms, key amenities that drive demand, among others.Next, we will reveal how top-performing hosts in this area adjust their daily rates throughout the year, capitalizing on the seasonal trends in the short-term rental market.Finally, we will conduct a financial case study to determine the expected net annual return of a listing available in the for-sale market within that specific area in Okaloosa Island.Analyzing High-Demand Locations for Short-Term Rentals in Okaloosa Island, FloridaThe first stage of our analysis involves finding areas with high demand for vacation rentals on Okaloosa island.

I got an email today from this company where their entire platform is built out around assumable loan data. 

You have my email and number, so you know how to get in touch.

I agree with BillB. in addition to, you must include in your new lease a requirement for additional tenants.

Feel free to message me with any questions, or if you'd like to shoot me your email address I can forward you some resources.

I really likes his personal approach and he was available via email and phone to answer questions and give some advice...So .. 

BUYOUT CLAUSE:2.1 Term:This partnership shall have a duration of 10 years, commencing on the effective date of this Agreement.2.2 End of Term Meeting:At the end of the 10-year term, a meeting will be held where both parties shall vote on options, including a buyout, selling the properties, or continuing the partnership.3.

Copy of license, copy of his business entity, google photo of his office location, emails... you will need this to prove it's his fault.