Are you supplying the dishes, flatware, pots, pans, etc?

You can then take some fees for managing the capital or focus your effort on investing the larger pot you have.

Steve I dont know if you have ever been to Jackson  I lived there for one year and have been funding flippers there for almost 2 decades and owned a few hundred rentals at one time.I say that so U know i am not taking  a pot shot at the city..

Fix the pot holes 1st.  

Repairs- you noted minimal.Rough $39,600 per year less expenses above.Just for kicks say net is $35,000 before depr or taxes.$329,000/$35,000= 9.4 year payback, subject to depr/taxes.Its okay. 

Just to give you a feel for what numbers are possible for income on a self-managed unit with no owner use here are some of my numbers.315K studio 44,381 gross 9,254 net275k studio 44,485 gross 14,879 net434k one bedroom 58,967 gross 19,862 netI hope this helps,Steele DeWald

More hands in the pot" does not necessarily translate to lower cash flows.

We're romantic partners, so I suppose the money all goes in the same pot, so it's not as bad as splitting it 50/50 with a strictly business partner though. 

It is thrown into that one big pot where all your RE income and expenses are.

Lets say your net is 6k a month.