I'm fairly handy, but just to balance things with my 9-5 job, focusing on something that just needs superficial updates or something nearly turn-key is probably best. 

@Ethan Borshansky, There was a brief period of time in the early 2000s when this type of "leasehold exchange" as described above was fairly common. 

I do have a few fair contractors. 

It's in great school districts, so I just listed those in the ad in a neutral, factual manner, which I believe won't violate fair housing laws as long as I avoid implying a preference. 

Selling your share at fair market value could avoid gift tax but may trigger capital gains tax for you based on the sale price and your cost basis.In California, the transfer may also trigger a property tax reassessment under Proposition 13 unless a specific exemption applies.

Hard to say if it’s a good deal without the most important piece of data, what is the fair market value? 

It is fairly well known... 

Quote from @Aaron Wolman: Yes, these charges are fair.

Many tenants will cut their nose off to spite their face and move, rather than accepting a fair increase:(What does Zillow say the rent should be?

I have a city rowhouse with a 20' sidewalk and 5' wide steps with 9 treads and two 7'x7' landings. It's a 4 family, I just don't want that kind of transactional relationship with any tenants. At another property with ...