I’d appreciate your input.

I'd suggest connecting with a Real Estate Attorney, and going from there. 

He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

@Rajendran Subramaniam looking at it from a 7-10 year lens I'd say the Texas market would provide the strongest return and that'll mainly be through appreciation.

If you have dealt with a similar situation, I’d appreciate any advice.

On top of the previous recommendations - as you don’t appear to have a property manager, I’d suggest you start documenting every issue and correspondence with the tenant.  

@Jared Galde I'll be there and I'd be interested in learning how to leverage my SFH portfolio to cater to this niche. 

As others have mentioned, DSCR loans are generally for turnkey rentals (although outdated rentals may still qualify depending on the level of deferred maintenance). 

I'd like to do at least four flips in 2025.I've had my Real Estate license for almost 20 years, but have never practiced other than family/friend sales and purchases.The missing piece for me is finding the off-market deals.

If you're new to real estate investing and looking to get the best value, I'd suggest considering **house hacking** using an **FHA loan**—it can be a great option for first-time buyers.