@Cameron Palte I did a presentation on this a few weeks ago for @John Warren meet up group in Berwyn and I would be happy to share the slides. 5 ways you will make money with that condo1.

I do this on a sliding scale, the maximum if the sale goes through in the first 45 days, and then tapering off after that.

So he is “making” $1250 by sleeping in his car.The bed has 2 benches on either side for passengers and the sleep platform slides into the center at floor level.  

I’ve also said I want her to move on as well albeit he said she was doing her best to clean up what she could, order a glass replacement for the sliding door only even though other windows were broken it was to secure the lower level.

As such, I would look at a sliding scale of repayment of your partner: i.e. 100% of the free cash flow for the two years; 80-85% for years three and {maybe} four; then 75% until their "half" of the initial equity has been returned (out of your half of the cash flow).  

Apparently the rents are sliding downward and these guys paid prices that are not sustainable.  

If you get into larger deals, such as new developments, you can charge fees to cover your expenses during the build project and then earn a smaller equity stake or a sliding equity stake where you earn more equity in years 2 and 3 if the project is a success. 

Isn’t it 80 percent this year, then going 60,40,20,0 each subsequent year later?

My husband was upset right after we purchased it, the Attic light was burned out, and there was water damage to the wood beams that held the roof on, the roof/beams had somehow became unmounted and was sliding off the walls of the house, and there were cut and live exposed wires in Attic. 

Also lawyer fees to deal with the move-in and subsequent payout (~ $15000) It's in an up and coming area though I do think the rents are close to the max for the neighborhood currently.