If the partner wants to get a bigger cut on future deals, they can save their money and buy into a larger percentage on the next deal.

Adding the current mortgage and utilities would be roughly $1,350 resulting in a profit of $650/mo.That a pretty good amount of profit/cash flow to apply to your mortgage on a larger house.

If it's a larger debt, I would not offer cash for keys.

I will note though that lots of people manage multiple rentals without hiring a STR management company (myself included).

For the first time in years I’ve noticed many of the larger apartment complexes even offering the first month free to fill vacant units, so it’s clear that demand is down.

@Charles GranjaWhile you certainly make valid points, I’ve come to realize that this unscrupulous company is quite devious, and getting things transferred from them could be a challenge.

Sounds like your 2 previous companies didn't know what they were doing.

Hey ScottWe are primarily in the Tampa market and notice our larger homes that are non pool suffer as well. 

Quote from @Jonathan Glumac: I work for a MF Development Company in Texas and I want to get my realestate license.

Positive cash flow and low interest, i assume, long term loan is an enviable position that with time will produce larger cash flow.