He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

No sooner had we even closed on the property than they found a tenant ready to move in.

My husband and I did about a year and a half of college before moving up to KS.

I get a lot of applications from out-of-area people, typically moving from another state.

For a variety of reasons, including keeping this potential project "need-to-know" only right now, I want to get a ballpark estimate with full understanding that the goal posts could move in either direction as the project gets more discrete. 

I could see hiring a PM once you move out after a few years.

They would prefer a lump sum and move on.

It is done without prejudice and is simply a parting of the ways (eg tenant wants to move to another place, landlord wants to sell the property). 

Assuming they are professional and skilled in the craft - alot of the issues you have faced, they will remediate and mitigate moving forward.

Quote from @Emily Gowen: I only recommend investors sell when they can move the money to a better-performing investment or when the sale moves them closer to a specific goal.