It’s always fun to hear what challenges new investors tackle.

You can use that scenario as a learning experience when you may or may not encounter future challenges. 

Today we have 540 units in a few states and things are not without challenges. 

Most traditional property managers don’t handle this setup due to challenges like managing tenant disputes, coordinating overlapping move-ins/outs, and the risk of Fair Housing violations when selecting tenants.

It sounds like you navigated the challenges well and gained valuable lessons for your next venture.

Challenges?

Add the financing challenges and that you existing structure likely will become rent controlled.  

Always prioritize cash flow – Even if you don’t need the income now, properties that cash flow will be much more resilient during market downturns or unexpected challenges.

I was thinking he supplies the down payment and acts as a silent partner.

What are your current goals or challenges in real estate?