Alot of the best deals (especially off market and i mean actually off market) are done with emotions.

It seems as if  you never had control of the system, and there were no clear set of expectations.

Make sure to factor in 5-10% vacancy, taxes, insurance, mortgage, repairs & maintenance, lawn care, pest control, management fees, utility costs (goes in your name when vacant), turnover costs, and capex reserves. 

This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow. 

When investing in New Construction, you are controlling the property for the first, BEST years of a buildings life.  

Sometimes owners lock in long leases at cheap rents because they are emotionally attached to the tenants.

I feel like we are stalled out because it is too personal and we are emotionally attached at this point.

You can place the home into an LLC that is controlled by both of you after closing for most lenders and come up with terms and an operating agreement post closing. 

Rehab costs on anything more complicated can spiral out of control fast.

The problem is government thinks they are better than free market controls.