"Equal" Partners on Multi, we are not on deed, we need an exit

[Mark Zajaczkowski]

My wife and I and sister-in-law are all equal partners (50/50) on a multi-family unit (4 plex). Long story short, my wife and I made a very poor decision going into real estate/landlording with my sister in law and we want out. To make matters worse neither of our names are on the deed. Ideally, we would love to sell the property as it has appreciated more than 125k since we bought it and it is 120 years old, so I am afraid major expenditures could be on the horizon. We are cash flowing 1k a month, with all units updated and occupied. Whenever we bring up selling the property, my sister in law immediately shuts it down. My wife and I have put 90% of the sweat equity into rehabbing and managing tenants and their lease agreements. We feel trapped with no exit strategy. Like I said it is definitely our mea culpa into going into real estate with her sister. Any advice/suggestions would be greatly appreciated. I can provide more details if needed.

[Jonathan R McLaughlin]

@Scott M. beat me to it. I really hope you have some kind of written doc to further explain that 50/50...a promissory note? Anything? How much money did you put up? And why the #$#$@ aren't you on the deed? Was that her idea? What's the previously agreed upon criteria for exiting?

Leaping to a very dark place, in a worst case scenario your only option might be to threaten to sell your interest to someone she hates.