You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

All complimented with Amazon fulfillment centers, google, and more tech manufacturing jobs.The bad reputation of “Detroit” comes from OOS investors wanting sub $40,000, D class properties in poor condition, because they pencil out to 2-3% deals on paper.

I am always available if you would like to bounce individual scenarios around. 

Break it down into individual costs so you have a clear picture of where your money is going.

When pulling the credit report one of the individuals has a high debt to equity ratio (50 %) My fear is what if this High DTI and credit usuage could result in one of the parties defaulting on future rent.

In general, the minimum loans I've seen are 100k (individual properties can be lower if you are buying multiples from the same owner but the loan still must total 100k-ish).

I’ve been working with real estate financials for a while, and I keep seeing one mistake that costs investors thousands: poor bookkeeping leading to missed tax deductions.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

Yes, there are exceptions for significant life events (job change), but each individual must meet the FHA loan qualifications on their own, and the second loan must be for a valid reason, like a job relocation or other extenuating circumstances.

He said that he had never seen investor notes this poorly constructed to limit the rights of the investor.