I bought a 16 unit apartment complex that was a expense nightmare, with low rents, that I eventually gave up trying to make profitable. 

This way, you only need to invest your profits once.Overall, I don’t think you should keep buying more properties and making down payments repeatedly.

Adding 16 small units can be very profitable, with enough profit for all those involved.  

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

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.

More repair costs because their maintenance team somehow "missed" things during the initial turnover.At this point, I genuinely started wondering what exactly the 15% management fee was for.The Bottom LineLook, I get it—REI Nation is a business, and businesses are here to make a profit.

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

Although there is potential profit in this kind of profit, there is also more risk associated as the repair costs can pile up quickly and create a scenario where you have invested more into the property than the repaired property would actually be worth. 

If the rental income from your condo can comfortably cover your mortgage and leave you a little profit, moving out might make sense.

Also, for me 30+ bookings tend to be less profitable even though there are less vacancies.