Now, you need to figure out how to find deals and pay for them.

Renovation cost is roughly $30K.I guess what throws me off is that you say Cash invested: $60 

Where are your scheduled gross rents and effective rents so far in the last T12 months so we can figure out offense and defensive strategies.These would be the questions we'd go through in planning your steps ahead.

You might be able to do better on the rate, which would make the figures a little more favorable.

I would make you rue the day you collected that $50K assignment fee, which rightfully belonged to my family member, and I probably have a good shot at figuring out some place where you screwed up, or misled. 

Figure out how you want to handle you investing and what role real estate plays in that. 

I have a 6-figure land business & am just here to help (no affiliate links).The best land investing program I have seen is Jonathon Haveles with The Land Method and Land Riches Blueprint. 

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.

@Serge Hounkponou Recommend you first figure out the property Class you want to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I've been with RentRedi for a few years (started with them roughly mid 2021) after I'd had my fill of Apartments.com.