This can potentially lead to problems and the safety of the others in the home.I am planning on speaking with him about the lease violations and switching him from yearly to monthly with an increase in rent, due to the increased labor of the cat and the checks in of the cleanliness of the room. 

Owning a home also gives you stability (ie your landlord can't decide to sell your home), flexibility to do what you want to with the home and the money you are paying is paying down your mortgage, not your landlord's.One other question is do you plan on moving anytime soon? 

We are not putting up capital, just handling all development/build planning and operations.

But I think the key to my plan will be the property management co.  

I would be planning to do some things before actually making an investment.

Hey Amber - You're asking the right questions—selling multiple properties creates both tax planning opportunities and reinvestment challenges, and the best approach depends on your long-term goals and overall financial picture.If your priorities are reducing taxes, maintaining cash flow, and moving to a truly passive structure, you may want to take a second look at passive exchange vehicles like DSTs and 721 UpREITs.

Do you meet with us routinely to be proactive and do planning?

My current plan is to stabilize this rental and aim to buy one property a year. what do you guys think of this deal and strategy?

The time is on your side unless the seller is planning to not sell the property since now he knows that he needs to find a cash buyer to sell the property at the asking price. 

Sadly, the joint venture property deal has not gone exactly according to plan.