It all cash flows like a gold mine until the roof needs to be replaced, the main line goes, or you get your first turnover bill and need to upgrade a kitchen. 

Then, if you like some of the comments from a user, you can connect with them directly and perhaps do a 1:1 discussion and potentially discuss what you want to do in the future.

Also, if you have a below market interest note, if you wanted to sell that note for any reason in the future for liquidity you would be affecting the value of that note negatively.

, but we figured that the sentiment wasn't going to change in the near future.

The third property has a nice cash flow.I am wondering if there are steps I can take to reduce the cashflow issues of the 2 properties before obtaining another property, like pay down the mortgages or should I just save the cashflow from the third property to pay for any future expenses?

We're currently living in Idaho so attendance will be difficult in the near future but we'll have to plan a trip to Sac or make sure to attend a meeting when we move! 

This is perfectly fine if you are going to be living there a long time, but I see people who use a home as a stepping stool home to a larger home in future and make it very customized to their liking but then when try and sell it, it does not appeal to the masses.

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

Without knowing all of your specifics, I'd say that it's only worth holding on to if you can reasonably expect to have some really good appreciation in the near future (like 5 yrs)....Or, in the case where it would run well as a vacation rental, you could switch the usage, maybe?

Your rate will be higher than current, but give you your cash out to use for future opportunities.