The other PM can be a fix-mindset type of person where they are not willing to share anything unless you have a property and are willing to sign a PM agreement in the same conversation. 

Hi @Jacob Dalton,Thanks for sharing your situation—it’s clear you’ve put a lot of thought into this decision, and I can understand why you’re concerned given the challenges of being a landlord in Cook County.Screening tenants is definitely a key step, but I agree it’s not foolproof.

@Kevin Tan - I am considering this as well, if you don't mind sharing with us did you purchase the $79 one alone or with upgrades

Converting the partnership into a Tenancy in Common (TIC) could work, but keep in mind this requires dissolving the partnership structure and redistributing ownership, which may have tax implications depending on how it’s handled.

Why not aim to move these perpetual renters into home ownership instead?

How can I strike a deal where they can still receive some income from the property, but I can purchase the home and make my share and eventually (1-2 years away) own the home and eventually get full profit from this 8-unit property.

Quote from @John Williams: Has anyone been on the lender side of private money and had a bad experience that they are willing to share?

Based on the information that you shared, if you haven’t already done so, I recommend connecting with a local expert.

Did you property appreciate for the 1 year that you had ownership?

I'll do something that appears to be taboo on BiggerPockets, I'll share my rates and fees.Today, we were quoting interest rates between 10% and 12% for (1) a first-time flipper - 0 flips, (2) with a credit score in the 740's, and (3) putting only 10% down with us financing 90% of the purchase price and 100% of the rehab.