Acquiring a Duplex Next Year

[Matthew Haas]

Hello,

First and foremost let me start this off by saying I'm a completely newbie when it comes to all this so I appreciate everyone's patience and understanding. 

My wife and I and her brother were approached by their father stating that around the first of the year he was going to be giving us a duplex he owns on Nevada St in the 43605 area code. He owns this house free and clear and would gifting it to us. The property is decent-excellent shape with a detached garage included.

Currently one place is rented out to an acquaintance of the family. From what I've gathered he's not a good tenant and rarely pays on time. 

My first initial thought from this was I did not want to deal with a property, being a landlord, etc especially in this type of low income area. A colleague of mine of who owns property in a different state brought up the idea of a property manager since basically any income I'm receiving from this property is pure profit. From the quick research I've done so far seems as though there is not a very rock solid manager in the area or one that would take on such a small project.

I'm in the military so I have zero time to dedicate to hustling this on my own. My first instinct was just to ask her brother if he wanted to buy out our half and be done with it. 

I guess at this point I have three options. Try and sell my half, negotiate with her brother a percentage of income and have him manage it, or find a property manager.

I'd love to hear everyone's thoughts and opinions.

Thanks,

Matt