Yes you need 5 people per bedroom. 1 single person short and the Sheriff will simply leave and you have to start all over again.

I've got a pretty good idea of how I'd like it structured (terms) but I'm not finding any forms, or even examples of forms, to use. 

It's a huge win, and I admit, at the top end in terms of outcomes.Most deals are leaving $5,000 - $15,000 post-refinance but still nicely cash flowing.In short, yes, there's a lot of opportunity in Detroit but you really need to understand the market or work with folks that do.I'd be happy to chat with you or anyone else looking at the market there.

I've got 2 condos, a 2 bed at Maui Banyan and a 1 bed next door at Kihei Akahi.I'd definitely agree with @Patrick Franta - from my experience as well, the 1 bed unit has performed better.Also props to @Mike Neubauer for sharing his knowledge and experience with me - I'd definitely recommend you take him up on his offer if you have questions etc.I recently heard that the County of Maui is considering a ~50% increase in property tax for short term rentals from the current $9.37 rate to $15.41, equal to what time share units pay.

For distressed properties, focus on markets with growing job sectors, good schools, and lower crime rates, as these factors drive rental demand and long-term growth.

I am not sure if you are in an area where keeping the heat off could be a lease violation or you have that term in your lease.

It will cost you money in the short term to sub-meter the gas, but over the long term it will be worth it in my opinion.

Holding onto these properties would be most ideal for your long term wealth, obviously.

If Tenant fails to establish a utility account, becomes delinquent, or is disconnected for any reason during the term of this Agreement, Agent shall charge Tenant for the actual cost of utility use plus a $25 Administrative Fee for each invoice processed by Agent.

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.