I have the opportunity to help a family member be part of a joint venture with them putting the down payment down.  

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

Are all prom note payments current as of today?

If each property costs $200,000 and your only acquisition cost is a 25% down payment, you will need $850,000 (17 × $200,000 × 25%) in savings, an almost impossible amount for most people.

Know that every long term lender will require a survey and if something comes up on it when you are trying to sell or refi, you could get stuck in hard money without an easy or quick way to get out.Is there a pre-payment penalty?

DSCR (Debt Service Coverage Ratio) loans generally focus on the property's ability to generate enough rental income to cover the debt payment.

We saw huge appreciation in the 2018-2022 inflation run up, but that has significantly slowed these days in my opinion.From a rental perspective your monthly income per unit after all expenses with a typical 20% down payment is likely $100-300 when you find a property that will cash flow.

Lock-out, should they continue to not come even, would be typically less than 14-days.Unless the tenant comes even with the rent (which would result in dismissal of the non-payment of the case), there is generally limited defense to this process.

The retaliation claim is completely absurd in a non-payment case, but it has unfortunately delayed the eviction process even further.I’ll look into connecting with local landlord associations and advocacy groups.

Several have mentioned utilizing low down payment second home loans for qualifying.