Through our personal blood, sweat, tears and money, we renovated it to a solid C - replaced furnaces, hot water heaters, kitchen cabinets, flooring, etc. 

You would just have to have that conversation and see what they say.I would also advise not posting how much you to invest in the future because it'll be like sharks smelling blood in the water.

Then Uncle Sam paid me a visit to say thanks for all my blood, sweat and tears.

The new government in DC is barely 60 days old.Yet one of the most noticeable early goals it has set for itself is the repeal of Dodd-Frank.Although this law is more complex than most people seem to think,it might be worth your while as a real estate investor to google it and familiarize yourself with some of what it does and doesn't.Those BP members who were in the game in 2006-2008 understand that Real Estate can be a blood sport.We like to beat up on stocks.We like to say an entire stock portfolio can be wiped out by some extenuating circumstances while real estate is tangible and can be driven to,visited and touched.However,thanks to NINA and NINJA loans (google them),real estate proved every inch as dangerous as stocks in 2006-2008.At least when most people own stocks,it's usually almost all their own capital.When mortgages go bad,you not only lose your own equity,but now you own a ginormous amount of money to a lender who must foreclose on you.Bankruptcy may follow as value add.I feel it's my responsibility as an experienced investor to throw this out here at this time in our national political journey for those newbies who keep salivating over all these tempting threads on BP about "so and so" buying "150 units in 12 months".Now more than ever,it's extremely important to learn from the bitter lessons of the not too distant past.leverage is a two-edged sword.The wise ensure they purchase a sheath as well.The new government's policy post-repeal of Dodd-Frank (if it's that easy) may well birth an unprecedented job growth explosion and asset appreciation that we never have to worry about rental units vacancies again.But experience tells every savvy investor that is a pie-in-the-sky expectation.So what is my company doing to prepare for what is to come?

I'd HIGHLY recommend each of you have defined roles and responsibilities (and decision rights) to minimize potential for bad blood. 

Ongoing income takes a lot of effort on the front end but comes in waves over and over on the tail end of your blood, sweat and tears.

Nobody ever slings blood on HGTV.

How I see it working best for you with out knowing the numbers is giving up majority equity, and give up majority profits for your blood sweat and tears.

Have dry powder to be prepared to buy when the blood is in the streets.  

My first deal - other than my hacked house - starting with a 6 unit.....get the systems set up and the blood flowing - will look to larger complex in 2017......great website you have by the way!!!