Would you buy a property where you have to give half the profits away for life? 

We agreed to split the profits 50/50 on every deal.

They need to add 25% in order to get the 20% for  Overhead and Profit.

So now we cover utilities for both units and the new tenant pays a higher amount too on the back unit to cover all the utilities with a great profit.  

When the time came to sell, I anticipated a solid profit from the deal.

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

*Self-manage your property for at least one year to maximize profits and ensure quality guest experiences.Hopefully, this helps in some way.

If your investment is still profitable with the increase, then press ahead.

I knew these units needed a renovation and I am excited to get them rehabbed and get more juice to squeeze from them.The one I am currently doing will profit me another 200-225/m moreThe one that is vacant the 31st of this month will profit 400-450/m more which is no small amount. 

$20k/month in profit?