This was an issue I ran into when trying to do the same.

It's a very heavy hit financially for us, and this asset was owned under a self directed IRA.The investigation is still ongoing but so far the fire and police sides have informed me based on a couple items so far, that they suspect Arson.I can be a little aggressive in how I handle certain contractor items, and I have maybe 3-5 relationships just in the last year where I can imagine, perhaps, that someone might have felt aggrieved. 

Capex is ongoing.

Though in my current situation an SFR would be ideal (due to family moving in with me).. however I ran some numbers and the property would cashflow.

At 445k I have about a 6.6% coc with the numbers I ran, but I didnt factor any rehab budget if those units suck. 

I have 4 foreclosures ongoing in Ohio right now but for those the borrowers are deceased and we will not get them back - they will sell at auction so I will go with whatever is faster.

However, as part of the on-going business relationship, we want distributions (cash-flow) to be specific to our initial investments for each new individual property we purchase since one Partner may contribute more or less of an initial contribution toward the purchase of each new property.Ideally, we want the ownership split of the overall business to remain 50%/50%, and depending on any properties we purchase in the future under the umbrella of the business we would like the ability to allocate the P&L distributions per property.This is because, for example, we don’t want to disrupt the overall 50%/50% ownership of the business, and want the P&L among us to be allocated per property (like 60%/40% or 70%/30%).

That way it's not as big of an ongoing task but your still staying on their mind.

The property would still cash flow after refinance.I spoke to a local investor with 40+ years of experience and he suggested not to buy now given the market prices and ongoing housing eviction limits.

I do not do it because the tenant landlord relationship unlike a one time  sale is ongoing and I think a annual gift creates in the tenant an expactancy, that should  not  be there.