I think you have the right idea in having them pay for their water, perhaps it was also the case of them being overly cautious about water usage when they co-paid, and now they have become overly liberal in their water usage since you assumed the cost.

Co hosting seems to be a great option as well.

We see it all the time on BP where some tactical idea, a tool if you will, that has a use for a specific set of circumstances, gets blown out of proportion as a way to riches and is co-opted by people that don't 100% understand the implications, but will use it anyway and tell others to use it. 

Hi @Peter G. from my understanding if you are "co-hosting" you do not need a RE license. 

Prices and rents are going up so fast its making BRRRR not that difficult, especially if you are open to buy small multi fam and combine strategies like STR and Co Living you can absolutely crush it right now. 

We had previously done a short-term rental condo in Granby, CO.

Here is a document that touches on it a bit: https://tax.ohio.gov/static/co...In terms of why some properties may get significant increases in assessed value and others may get a negligible increase, it comes down to what the sales price trend has been in that particular area.

Before you do fire them, maybe call around and see if any other pm co’s have a strategy that might have an obvious difference or benefit. 

Maybe you’re a contractor or just generally experienced with renovations- all of these skill sets bring value, and if possessed, should be pitched to your potential money partner(s).Once you and your partners agree to what each party will contribute, you’ll need to make sure to reflect that in writing and have the proper legal entity in place for co-ownership.

While co-mingling funds is a quick way to pierce your veil, using the LLC as an alter ego is also a way.