You're also right that creating a partnership and then using it as a primary residence doesn't make sense on first blush.

There are lots of rules and they aren't as good for real estate as one might think on first blush.

. ($220 monthly cash flow, $134 @ 5%).I have no idea if I'd be able to get 40 year amortized or 4%, but I figured if it doesn't make me blush it isn't low enough right?!

Misery loves company, and a boss that feels that one of his workers under him is more successful is a bad thing.Lay low, if he asks you a direct question answer it truthfully, but I wouldn't volunteer information, no loose lips...

At first blush, this looks pretty good, @Jason Richards.

I don't play in gentrification areas, and I'd bet the investors that do are keeping pretty tight lipped. 

Or are your lips are sealed to better your asset protection?

I have a tenant that has a Ridgeback mixed with Visla, the neighbor is giving me a hard time because he wants the dog to be removed from the property since he found out the dog had bite the tenant's kid on the lips while they were playing.  

I personally have never seen a manager take less than 10% (granted, I have no personal experience in SD or in MO but I would be beyond surprised if you could get someone to manage a SFR for less than $75/month and trust you are getting more than lip service).   

If the property was just lip sticked the future and ongoing capex items could crush your cash flow modeling projections.