Additionally, if he’s legally and financially tied to the property, it might limit his flexibility if he wants to make major life changes, like moving or starting his own investment ventures.Ultimately, the decision depends on how involved you want him to be in the financial side of the property and how much risk he’s willing to take. 

Anyone in business takes risks, but a lawsuit and some other things don't look great.

Leveraging your equity through a HELOC or cash-out refinance can be a smart move, but it depends on your risk tolerance and goals.

If you have to put much more into it, then it's probably not worth the trouble.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

I have one long term partnership that we share capital but I still do all the work ( rain maker) he is a cpa so he does do the books and tax return though :)  WE built one subdivision together were he put in 500k and I made him 1.2 mil in 18 months net profit so that was not bad.

Alternatively, waiting for rates to drop and then moving might give you better purchasing power.Ultimately, it depends on your cash flow goals, risk tolerance, and long-term strategy.

There is more messiness and risk.

Alternatively, keeping the properties offers long-term equity growth but with lower cash flow.Ultimately, weigh your ability to manage future cash flow, your risk tolerance, and your long-term goals.

If you’re confident in handling the entire process from start to finish and know how to mitigate risks when things go wrong, then you probably don't need an agent.