I anticipate that creating automated (or at least predetermined) systems to deal with foreseeable events (through education and trial and error) will be paramount to our keeping our REI from becoming too time consuming. 

But if you do win the bid at the foreclosure auction, then the son would be obligated to sell the land at the predetermined price of $15k.3.

The partner will ~earn towards the 75/25 split by doing property management over time time (probably 3-5 years).So, the question is how do we structure a business to get financing and allow unequal ownership (of the property) that changes with time in a pre-determined way?

The Car loan and the person loan (total 9K) are flat, the interest is pre determined and included in the loan paying it off early will not save me any money .

Our plan A: Sell all units and retire on 3.5% of our investment porfolio, travel extensively, and within approx. 10 years buy a place overseas ot take advantage of geoarbitrage (i.e. settle where our american middle class income makes us 1%'ers)Our plan B: Sell SOME units, in order of ascending quality, putting a predetermined amount into short term cash, the rest used to pay off existing mortgage on building still owned (but only if 100% of the mortgage can be paid off, thereby increasing cash flow to offset the decrease in cash flow by losing the building).

Hey @Peter ForrestI work often with investors in setting up operating agreements so that all parties can participate in predetermined roles of different joint ventures.

There’s a ton of predetermined mailers online ready to go.

The contract reads, or should read, that the owner of the option has the right to buy the property at the predetermined price. 

Many of these affordable rent programs require that a predetermined percentage of units be provided to propsective tenants whose income is at, or below, some percentage of Area Median Income ("AMI").

Basically you pay the tenant a predetermined amount to leave.