Is land still trading?

In the middle of trying to make the same decision (only from CO), and have learned that keeping the property is not financially wise since the ROI is low (<6%). 

It seems like you are looking for someone to push you and say just do it but its a personal decision at the end of the day.

. :) For some, I imagine you will have more than $200k sitting in them as "potential equity" you could sell 2, 3 or more of them and now trade them for a 6 or 10 + unit property.

Operating Agreement: This document should outline each partner’s investment, share of profits/losses, decision-making authority, and exit strategy.

You are too tied to those two decisions, neither which are good in my opinion.

Real estate is very different.Landlord-tenant laws are only one small component of the decision-making and it's just an issue you deal with when for investing in a highly dynamic market like NYC.On the flip side, if I take my market Milwaukee: despite a chronic housing shortage, we don't have a national home builder working here.

The husband took care of the property like it was his house, he was a painter by trade so that helped out a lot!

However, he has 51% decision rights.

Whenever making an investment decision, please consult with your tax attorney or financial professional.