Milwaukee is probably still one of the better markets for cash flow, but you have to buy quality and if you are financed (not 100% cash) then slightly better than breaking even in the first few years is a pretty good result.

If you break even, consider a free education.

Design: Many visitors come from Philly and NYC, looking for a break from urban life.

However, due to unexpected construction costs and delays, the project is now at break-even.

@Andy OkamotoOne cautionary note: if your idea of "cash flow" is $10K in net operating income, $120K before taxes in your pocket every year off your rental property, well, if it happens to you in 10 years, it will be a low-probability event with a lot of lucky breaks and eventually will likely ruin your life when you make a misstep because you assumed your lucky break was the norm.If you're serious about moving out here, at least look at the Pittsburgh area and its proximity to Carnegie Mellon (tech) and UPMC (health care).

With other owners, they will have a separate account, could be XYZ LLC,  Alpha under their own EIN, all owners/members may be required to be on the account, but then you limit the signature authority to those seected, could be just one other owner.Taxes are consolidated for sole owners, other members then use the K-1 (I believe it is) breaking out their income.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

I’m guessing an attorney would advise you to make a clean break by simply selling the property or having her buy you out and refinance the loan to get you off of it, but I’m not an attorney so I’d recommend talking to one about it. 

You break up. 

Unless she's breaking some rules, don't do anything but collect monthly rent.