Now if rents can go to 1,100, different story.Value is based on Net Operating Income, and lending is based on Debt Service Coverage Ratio.Gino

I'm an experienced workforce housing owner and operator.  

Or ask the third owner if they would also consider selling, so the whole property is sold.Whether a partnership or LLC, follow the Operating agreement. 

Banks aren't really in the business of lending to real estate investors anyway...they focus primarily on "operating entities", but they can be done.

I would check with a few different groups to make sure that they can operate in Detroit, and also to make sure that they will lend to the property in question based on the value.

Focusing on the foundational basics and your operations is more important long term.   

I know if we operated short term rentals I would need additional VAs plus it would be more headache for the team. 

Clayton was the sales and Bert was the operations.

I have onbaoarded  a few properties so far and it continues to work seamlessly. 

If it was originated recently an option would be to have them refinance it - but if it’s a low interest rate then they will most likely want to keep itWhat does your operating agreement say about this?