@Andrew Bondarchuk, it is probably just as well that you remember your own student indiscretions when contemplating repair/maintenance costs for this one.

I am contemplating expanding my operations to the Sacramento Market (currently on pace to do 30 deals this year in San Diego).  

UPDATE: the bank's lowest price is $18,500 so I'm contemplating on what to do.

And, I've been thinking/contemplating ways of getting to know areas for potential investment.

Given this, I am contemplating JV deals in Lubbock Texas, which is about an hour and a half from Clovis.

It is listed for 60k and we are contemplating the purchase.   

Bill Gulley  thanks for that post, as I was contemplating some foreclosure mailings myself.

When the sale of real estate is contemplated, the partnership is the taxpaying entity that is selling the real estate (not the individuals), so unless any changes are made, the partnership must stay together and structure the 1031 Exchange transaction. 

I am contemplating trying to pick up one or two REO properties for rehab (assuming I can get them at prices that make sense).

This, alone with the process of selling, plus our interest in RE is what has made us contemplate buying his share instead of selling.