I wouldn't even consider a partnership with him. 

Even if you adjust it over time, the effort spent upfront will pay dividends as you build momentum and make informed decisions in this field.

The other investor may be bleeding money and they don't even know it.

When a request or even an unmatched housing request come through on FF, we jump on it like white on rice.  

If tenants say they want new flooring, then we have to put in new flooring, even if damage was tenant caused.

San Diego was even going to opt in on SB10, but there was some organized backlašh so the city has not opted in (yet?). 

Even if you use piers, they are usually concrete (which is OK for most lenders), steel or wood on concrete.

Lastly, if the tenant does become delinquent and we have to file a claim with Rhino Insurance to collect their deposit, we're adding to the financial woes of that tenant and putting them into an even worse financial position when they wouldn't have qualified in the first place.Thoughts?

@Matt Wan In the Boston area the inventory is so tight I'm not even sure there's "deals" in the off season.

In that case I write off the lost rent as cost of doing business, but I prefer that to the expense and hassle of an eviction, which typically ends up costing us more and takes longer, even though Milwaukee is still pretty landlord-friendly.I have also done cash for keys, but typically very conditional.