Ending partnership/divorce. Need subjective advice. Sell/hold?

[Ben Visser]

Needed some outside perspective. My partner (business and personal) has ended our relationship.He always said that since I did all the work on this business, it would always be 100% mine. I have always made the decisions on the properties and the management of them. He has affirmed that at the end of our relationship.Obviously emotions are a part of this for me and I need to separate them from the logic of moving forward.

We own 3 properties: my home, a duplex, and a 4 plex. After 2 yrs of a slow remodeling one unit at a time and then renting it, Sunday will be the last lease signed and all 4 of the units will finally be full.I need to make a decision. I stopped working to go to school for a we development certificate. While my former partner has said he will continue to support me (program ends in spring). Not sure I want that, but may have to use the help for now. I otherwise have no income aside the rentals (which I have never used as "income"), we have credit card debt on that needs to be addressed before considering anything profit.

I had started the process of doing a cash-out refi that was aimed to recover the remodel costs and pay off the cards. With no income, child support, etc, I can't qualify for anything for a mortgage. It will be years until I look good on paper personally. While he would do it, I don't want him to do a cash-out refi when he won't be in the picture.

All mortgages are in his name only.

Emotionally, it is hard to think of keeping the properties. Maintaining, property

management, etc will all take time and energy. And of course, there

will be memories. The market is also good, so selling should be fairly

quick. If my numbers are close, I could sell the rentals, pay off my primary/personal home

(which that mortgage gets covered by my basement renters already) and have enough left to service the credit card debts and more.While that scenario relieves me of the management stress and secures my personal home, I also want to look at the long-term effects of selling. Am I seeking immediate resolution to temporary issues? Am I missing what holding on would do for me?

The numbers today:

Personal home: mortgage $901, rent income $1100

4 plex: mortgage $1300 rents $2915

Duplex: mortgage $850 rents $1360 (8 yr tenant, rent way below market)

=$2951 in mortgages & rents of $5375

It would be a long time before I could refi everything in my name. There is always the worry of a market crash that would remove an escape hatch.

Holding onto them does give me cashflow in the future (about 1 yr) once the credit debts are paid off.Yes, there will be maintenance (new roof, tree removal, additional exterior/parking improvements). Wonder anyone's thoughts on the cost/benefit of selling or holding on?