Any recommendations on next steps if we were seeking to exit the relationship?

Hi,I'm seeking advice.

I've seen active pump jacks in the yard, but not sure who was there first...the well or the house. 

Honestly, as sexy as it sounds to be active and go after them on your own, as a rookie, even with some book education, the real world can knock you on your azz so I would suggest going with a very experienced and proven sponsor.

In your situation, seek out a partner who is already experienced in this type of acquisition and managing the same.Share split? 

Networking is key, and places like Facebook groups, BiggerPockets, and REI meetups are perfect for finding active cash buyers.

Hi - are there any scenarios in which mid-term rental income/losses can be considered as active income rather than passive, besides when one has REPS status?

I have an experienced opinion on the matter, but am seeking outside perception and strategies, if any.Additionally, what are the implications of the NAR Settlement regarding this strategy if any?

If you were to seek a LOC against #3, you would not get much as an investment property its very difficult to get a LOC and they typically will not go above 75-80% LTV which is where you are at.2.

So, we obtain a full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc. to build an overall credit evaluation.Public RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.