If you can stomach that initial phase you'll be in a great position when the property is cashflow positive and worth considerably more. 

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

The partner is not agreeing to keep it, we have a mortgage on the house but still it seems that we will have positive income and around 6k-7k cash flow each partner.

He explained that as a fairly new investor, 5 years, that if he was in my position he would save the extra funds for his emergency fund or eventually use the accumulated extra money to buy his next investment.

Its not easy to be in that position and can be very stressful.

If you're looking for cash flow, I personally recommend Columbus - we still find great deals here that hit 1% and positive cash flowing.

No one can tell you which method is best as it depends on your personal risk tolerance, financial position, etc.

You don't want to be in a position where you have to tow it.

Hey Alex,My name is Jagjit, and just like you I'm new to both RE investing and Biggerpockets.My plan is to start with multifamilies and I've talked to a couple of RE agents so far, and the conclusion I have is, in this high Interest rate market, its very difficult to find a cash-flow positive deal. 

Hi Chara,You have a solid equity position with about $700k available.