Whatever is left over at the end of the the year will just be distributed equally between the 3 partners.  

@Jim Bryson, I'm sure there's someone with equal or better terms out there, whether this is a scam or not.

Whatever is left over at the end of the the year will just be distributed equally between the 3 partners.

When they took possession of the house after the lease back, there was massive damage, broken sinks, destroyed hardwoods etc.And as I understand in most of these cases, you arent given a damage deposit, they are paying a daily rate equal to the mortgage and are in the situation if they dont move out that you have to go thru the eviction process.I am not saying you shouldnt do it under and circumstance, but I think its important to recognize you are taking on risk.

Jersey City equalizes at 23.66%.We don't file for a few months still, but sounds like your assessment may be closer to market value now that I know about the history.

Was it equal, better or worse than the previous three years?

I would pony up for  USED Tesla... you get free supercharging for life and they are simply the best car made today.Also you stick to your Bay Area real estate ... if everything is close to equal a prime Pennensula home is a trophy asset that is of the most stable in the world... its sounds like you already have some rentals.. next move would be different asset class's or development deals were you make as much in one deal as 10 years or more of your cash flow in all your rentals.. open your thought process to bigger bucks.. there is MUCH more to real estate life than the rental business.

The monthly lease payments will be equal to his current mortgage payment plus 1/12 of the property taxes and 1/12 of the insurance, paid out of 3rd party property manager's account from rent's collected. 

What annoys me with TripAdvisor/Flipkey is that clearly from an inquiring prospective guests side of the site they cannot see what all the fees and total cost will equal so you get incessant questions like "What's your rate for such in such?"

My wife & her sister were willed a home 50 & 50 in Statesville,NC. We live in NJ.The home is big 6 bdrms 2.5 bh ranch on double lot, mother & daughter 2100 sqft. The good thing is, we have a great tenant w...