It keeps more money in your pocket and if you refinance within 2 - 3 months, the interest rate will not make a big difference.

Keep primary mortgage @2.9%, paying the minimum.

If you keep the property in your name, but allow her to live in the property, I wouldn't charge her any rent. 

Thus the money partner may realize a higher profit within a 3-year period of time than they may get with other investments such as a 25% or higher return per year for the 3 year estimated length of the investment. - The money partner doesn’t need to worry about the financing or keeping the debt in their name which may reduce risk for the money partner.Long-term tenant to reduce turnover.

.• Creative Financing: Keep an open mind to creative financing strategies; sometimes thinking outside the traditional box can reveal opportunities others might overlook.On a related note, I help investors streamline their operations by generating quality leads and assisting with VA hiring, which might be useful as you build your team and network in the area.Looking forward to seeing your progress and sharing insights along the way.

By managing yourself, you keep that money in your pocket.✅ Hands-On Experience – If you plan to grow your real estate portfolio, managing tenants yourself can teach you valuable lessons about leases, maintenance, and local rental laws.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

After that, if issue is addressed but ground floor tenants keep complaining - remind them that common noises are expected when living in an apartment. 

This keeps you from cutting corners or hesitating on necessary repairs.7.Stay on top of rent increases & lease renewals.

They might accept your same offer 30 days from now, so sit tight and keep checking in with me.