To be fair annually that would be a 3% return. 

Quote from @Travis Timmons: AirDNA published their annual list, and the markets topping it are: 1.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

My plan is to maintain the status quo and benefit from annual rent increases and equity gain as the tenants' rent covers the mortgage.

I personally would sell it.Your return from real estate is two items - Cash Flow + Appreciation.What is the annual rate of appreciation you are getting, approximately?

Bear in mind that the fiscal treatment of the two options in Mexico is different (withholding tax on the gross income with the fideicomiso vs cost deductions with the corporation).

Properties like the Michigan complex offer a unique entry point, combining cash flow and significant upside potential.Immediate Cash FlowThis particular property is projected to deliver 6% annual cash flow from day one, already exceeding the yield of Treasuries.Value-Add RenovationsThe property includes hundreds of units that can be upgraded to Class A finishes, justifying rent increases.

By potentially reducing your property’s taxable value by up to 25%, it can lead to significant savings on your annual property tax bill.

A deal this small wouldn’t make sense as a partnership unless the original intent was to scale and grow together assuming this deal works out.In regard to the financing, if you can’t get it on your own without someone else’s balance sheet and income then it would be very difficult to untangle that partnership since he’d be a personal guarantor right along side you.  

Another variable in the amount of rent that a Section 8 tenant can pay is HUD limits their rent payment based on the amount of their income.