check???
Man oh man. I couldn't let that comment on getting a check at the end of the month go without my .02.
I have a Cherokee 180, and I started Aircraft Ownership 101 when I bought this airplane. I entered into a lease-back situation in the Dallas area right away, thinking it would offset much of the expense of ownership, and I could get my ratings quicker. BaHHAAAAA!!
Every flight school in the Dallas area offered me the same basic deal. They demand that they do ALL maintenance on the airplane. I couldn't even change the oil! Folks, airplanes are like black holes for cash, and if you can't do ANYTHING to cut your maintenance cost you can forget about making money in a leaseback deal.
My aircraft was being rented about 70 hours a month, by the same people who abuse the crap out of Hertz rental cars. People have no respect for others property, and don't care how it's taken care of. This, plus normal wear-and-tear adds up to alot of maintenance. I only got a check 1 out of 7 months...all others I had a bill, and had to put back money for an engine on my own! Top it off, and the plane was never available for me to enjoy.
So when it comes to doing a leaseback of your aircraft...RUN THE OTHER WAY!!!!!
About the plans to open a flight school or do instruction/rentals. If your anywhere near Dallas, I think I might have a suggestion that would work for you. Just depends on what you really want to do. There is an established, but small flight school in Greenville. I believe the owner would work out a fair agreement with you on many possibilities. If your interested, send me a private message. Cheers, and good luck!