@Kevin Morris Seems pretty straightforward to me...ditch the guy with the sticky fingers.

A risk though, if you miscalculate and use up all your reno, and you're even cash flow with one unit vacant, puts your in a sticky situation unable to get the unit up and unable to fund the rehab. 

Cash businesses are notorious for partners having sticky fingers.  

I eat, EVERY SINGLE DAY, Spanish rice, and cupped soup as my meals which is fine.

Scott that had been posted many times and is stickied in this form, but it didn't go into much detail about what percent people tend to set aside for maintenance and/or CapEx. 

Be nice to have a sticky for newbies.

The information you seek is in some great "sticky" threads at the top of the forum list. 

My wife and I have been reflecting on how this sticky issue may be a blessing as I would have defaulted to a standard retail sale of the home. 

This makes the tenant/buyer more "sticky", gives them pride of ownership which improves the Park and it eliminates all the management/maintenance brain-damage of the home rental side of the business.Your goal is not just to have a business that pays you a good rate of return, it needs to be one that can take advantage of financing while also being structured for future resale/trade.

Don't forget your notices of the note being sold either, ensure those were accomplished.I'd seek a deed-in-lieu before I walked into settlement, that's another issue and can be sticky with a broker if not done properly, you have standing to investigate a borrower's credit and their intentions!