Spell out the complete agreement of how expenses, profits (or losses), and other responsibilities are to be split—put everything in writing.Do a background check on the partner to confirm there are no outstanding liens, judgments, or active lawsuits against them.Hope these suggestions help.

You’ll also want the last 12-24 months of profit and loss statements and bank statements to verify income and expenses.

Once you have experience and learn to budget for occasional big ticket cap ex items that every house has whether it’s 100k or 1M, it becomes really hard to make any profit.

If the next investor can’t make a profit using it as a STR/MTR at your listed price, why would they buy it?

I would lock in a solid profit.

@Alex Scattareggia, the withholding tax, as you suggested, doesn't have to be an issue providing that your property is profitable enough.

They have no profit motive so they will take their sweet, sweet time in installing any locks you need.

I'm curious if you have considered approaching local non profits that might want a private partner.

Overall, it can be a profitable business, but most people get into it to become an investor and 99 percent fail right away because they don't know the slightest thing about repair costs, talking to sellers, and are only in it for the money and not to help people.

Just like you, she can do RE as a side gig and learn a lot more while she keeps her own nest egg going and her lendability strong with a regular job.You should loop her into a major document with all of the properties and all of the profit and loss and go through them one by one and talk about whether to sell or keep, and also base it on geography for her and your collective choice of management.