Better yet, encourage her to make a clean break....perfect time for a fresh start.Also townhomes are rarely a good investment vehicle. 

Do 1 thing, stabilize the property, and then move on to the next.On the short term rental, I would encourage you not to partner.

@Meghan Carson: Thank you so much for your kind words & encouragement—I really appreciate it!

The masterminds often encourage students to finance the new-car like entrance fees on a credit card, on the promise of just a single deal covering all the entrance costs. 

I can send a million articles, but i encourage you to go to maricopa.gov in addition to the city websites where you will see all the development going on here at a micro level. 

I had thought as much but it's encouraging to hear from an experienced investor.Two, it sounds like talking with a CPA is an absolute must on the tax implications of this deal!

I would encourage the use of a warranty deed to the situation that @Steve Vaughan mentioned above.

@Tannia CastroRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Also, I'd encourage you to think long term. 20-30 years from now, it won't matter if you bought your first property now or 3 years from now.'

We do encourage doing your own due diligence even though we are providing all this info.