The chance you recover any money from him is very very slim, sure file against him in small claim court yourself if you have time, don't throw away more money with an Attorney. 

I’m always looking for more deals and it’s slim pickings now a days. 

But lately I realized that although we do get our money out but the cash flow is really very slim so after some debating with myself I decided to partner up with a close friend who is doing 1-4 units in a certain neighborhood on a really small level but is looking to expand.

I recently slimmed that down.

Cash flow in Australia is slim to none especially in capital cities like Sydney, Melbourne and Brisbane.

It was a pretty slim lease agreement, so maybe better to ask them to sign new agreement. 

.($80K * 80%), but you get the idea.If you did the same thing but used debt for the purchase and rehab, then you would owe $60,000 already on a property worth $80,000, and it is unlikely anyone will lend against that slim margin.Another strategy for raising cash is equity partners. 

But capital is slim, credit is great, annual income for Northern California standards is low.

so it looks like rent is under valued but they have another year on their lease...and its a long term tenant w/ young family...I don't know how I'd feel jacking the rent next year.I guess other factors may be that it is close to a large corporate park/employer, so vacancy may be slim-to-nill and its in a fast growing suburb part of Austin, so maybe property value will rise and rise and rise?

Cash flow in Boise is pretty slim for sure,  but growth keeps happening and we expect our population to keep growing for years to come.