I think your best bet here is a DSCR cash out.

He's playing with numbers, I reckon, and I bet there was a mortgage on the property, so his cash in was not $230k.

Thanks Hey Troy, I would say the best bet is for you to try to sell it as a package deal and get a seasoned investor-agent to try to get you some action on it.

Making your investors feel safer, syndications require a government-regulated private placement memorandum (PPM), which spells out how the investment is being set up and the returns and risks involved.On the negative side, real estate syndications are expensive and complicated with quite a learning curve.

It would be safer to get the tenant out ASAP.

There has to be a lawyer willing to do it; call every lawyer you can, I bet you can find one!

@Alesha Walker Refinancing your three properties into a 30-year note at 6-6.5% seems like the safer option, turning your negative cash flow into a positive $450-$500 per month, even though it delays your original goal of paying off properties within 15 years. 

Best bet is to connect with local MTR operators and ask them.

Now, if you're looking to do a BRRRR in today's market being brand new to real estate, it might be safer buying cash and refinancing when finished.

Leveraging a 1031 exchange is your best bet for deferring capital gains taxes while reinvesting in a new property.