That can be both good and bad...but you 100% need some paid support in your corner otherwise this issue will most likely spiral out of your control.There are some LA area developer and PM investors here on the forum get in touch with them, see if someone can help walk you through things and hire the atty and/or PM help you need to keep from making this situation worse...you admit you don't know much about leases etc, and that's totally fine.

My ultimate goal is to buy and hold multi-family apartment complexes.

This is a only a short term hold for 18 months and sell because of the structure.

Less Competition - High-interest rates and market uncertainty may deter some flippers, reducing competition for distressed propertiesMarket Demand - In some areas, there remains strong demand for renovated, move-in-ready homes.Price Negotiation - Sellers of distressed properties may be more willing to negotiate in a high-interest rate environment.Cons:High Carrying Costs - High-interest rates increase the cost of borrowing, which raises your holding costs (interest payments, taxes, insurance, utilities).Market Volatility - Real estate markets can be unpredictable, and high-interest rates may lead to slower home sales and declining prices in some areas.Renovation Risks - Unexpected renovation costs and delays are common risks in any market, and high-interest rates exacerbate the financial impact of these issues.Financing Challenges - Securing financing for both the purchase and renovation can be more difficult and expensive in a high-interest rate environment.Mitigation Strategies:Thorough Market ResearchAccurate BudgetingEfficient Project ManagementFlexible FinancingExit StrategyFixing and flipping properties in today's market can still be profitable if approached with caution and thorough preparation.

Buy & hold for sure, STR works well, flipping if you live in Milwaukee - it's too hard remote.

Investment Info:Large multi-family (5+ units) buy & hold investment.

If the buyer's strategy is to hold long term, and they are getting favorable interest or payment terms, and the value supports, offering more than ask isn't necessarily a bad thing for them.

His case worker should be able to talk to him because he's going to be at risk of losing his section 8 support if he can't follow the rules. 

How many successful exits do you have or are your private money deals holds?

Partnerships are like marriages, they're great if the partners are aligned and they hold each other accountable.And please set expectations with your partner.