If we put the home on the market we would lose at least a month rent and utility cost.Some background on the property is that we put 120k towards a down payment at 6.125%.

Lets say its 1k a month on a quad, your partner would be losing out on 25% of income, while you would actually be getting the full 100% plus some on the break from living expense. 

If you have a BAD tenant experience on this property as a rental and lose several months of rent and incur substantial tenant damage that is all coming out of pocket whereas if you had even a handful of rentals the performing rentals and the monies budgeted for capex/maintenance/vacancy will carry that sort of loss.

My opinion is while not directly correlated, when banks start losing money and increase in defaults lending tightens and large losses typically will lead to more job losses.

In your case, you are holding the property for nearly two months and you probably have a deposit of one month's rent, which means you will lose at least a month of rent, two months of utilities, the cost of lawn care, etc.2.

I really don’t want to lose her!

If your tenant stops paying or trashes the place, you could incur another $10,000 - $20,000 in one year, on top of the $36,000 you are already losing.

I would strongly recommend you reconsider a flipthe 'cash partner' will expect to be paid whether you break even or lose small or lose big

Hard money is for flipping, nothing else unless you want to lose more money.

Every dollar you lose to operating costs is a dollar less you have to live on.