Buyout or keep equity?

[Ian Loonce]

I have a business partner, we have 8 homes together.  I have 2 more on my own.  We are about to do a big refinance and I included 2 of mine so we could meet the 500k threshold. 

I am thinking of trying to drop the 1 of mine from the loan...and selling the rest to my partner.

The buyout would be for 175k for the 9 properties.

On paper it looks like I would be making 28-33k a year off of the properties. However they are mostly low-end units in bad areas which could come with a lot of headaches and maintenance. 

If I sold for 175k, I could buy a couple decent single families with less headahces..refi those 2 and be making the same amount of money in no time..with half the work and half the headache.

What would you do?

The other option would just keep buying with my partner with more low end multi units.