Both of you are making critical contributions to the partnership, though it is fair to expect an additional boost to your ownership stake relative to his given your role as the loan guarantor.  

Moral of the story- you don't necessarily need to put it in an LLC.

I' thinking that getting the properties out of my name and into an LLC would boost my personal credit and open up new opportunities of investment for me.  

(this works out to a total payout of $12,165.60 over the course of 5 years)TOTAL PROFIT: $58,765.60So, the moral to the story is--always be thinking of new and creative ways to add value to your clients.

Ive seen a lot recently about Wellington boosting its game in terms of attracting more people there, do you think some of the overflow of Auckland might spill down south?

You will be fine and will boost your Cash on Cash exponentially way beyond the 3% (assumption) you will save from the Listing Agent's side.Always remember: commissions are calculated on the TOTAL sales price but the come out DIRECTLY ONLY FORM YOUR EQUITY.

@Carolyn Morales , have you reported it to the local Board of Realtors?  

I have a bachelors in history, which doesn’t do much in business or real estate, but I have had extensive training in “moral and ethical leadership” which I can apply anywhere.

As a 4 plex gives you that extra unit which can boost your cashflow a bit, getting started and taking action is much more important I feel.

The moral to this is to have a strategy to eventually "Go big or go home!"