Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

At the end of the day, the list price is your decision.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

It takes them forever to sign documentation and make decisions.

@Dominic Mazzarella Those are good points to keep in mind, and factors any investor should look at when making the decision to invest. 

There i a bit of research that needs to be completed early on in order to get a good judgement on the feasibility of this; from there, the "Official" way to ensure you could pursue this would be to request a "Zoning Opinion Letter" to receive an Official decision from the Department of Zoning in order to ensure this will not cause any issues during your permit review. 

Taking small, manageable steps now will help you make informed decisions when you're ready to invest.Good luck!

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.