When I calculate the NOI I come up with $15,816 a year but with the way the building sits now it is loosing $4290.00 a month.

My personal experience is that if you are going to think that something is going to go wrong, then something is bound to go wrong.  

If you are investing from out of state, you might loose a lot of the value that comes with being on the ground.

Even with the addition of door's I would loose cash flow.  

With that said can anybody, "loosely" estimate how many properties I would have to sell or buy and hold in order to reach that goal?

The investor is obviously doing a lot of things incorrectly (and you shouldn't want to work with him), but you're also doing a lot of shady things:- No insurance- Not pulling permits- Not filling out a W9 (or charging for taxes separately)I would suggest you cut loose from this investor, but that you also examine your own business practices and make the appropriate changes there as well...

Understand that weasel clauses just reflect their intent and they deal from a position of no commitment with who they deal  with. 7. they have no understanding of valuation of professional (I use that term very loosely) services attempting to get what ever they can that is most often unreasonable. 8.

And Thank you for "Gripe"  I understand that mindset, because they want to property to look the most attractive to their end investor but when the investor does their due diligence like yourself, it looses credibility quickly.  

I've seen people post to go so far as loosing the girl friend is she's not board with investing.  

Doing a title search on each home would be very expensive given the auction could be canceled (plaintiff files for bankruptcy), you loose the home to another bidder, the reserve price announced shortly before auction is too high etc.