Any of that sound familiar?

When Grandma dies if you call the family asking to buy Grandma's house because you see its going through probate, you sound super creepy and predatory. 

Sounds like you're on your way to achieving your goals! 

You can only charge for the depreciated amount for the items you replace so a 3 year old carpet you can charge for the 4 remaining years of life.

I need to replace that monthly income of $5200 a month, and I have ambitions to invest out of California and am looking at markets like vegas either short term rentals, codo hotel (very iffy on this), and Toledo, Ohio. 

idk, i feel like there are necessary details missing here. but i'm also wondering if it would make sense to just reallocate the percentages based on what each person is bringing to the table. it would've been easier if you did have an LLC whose operating agreement you could just change. there's also the 'lazy' 1031 or 'reverse' 1031 where you just make the sale, then strategize with your cpa on how to offset the cap gains for that year. also worth noting: 1/3 of something is better than all of nothing. it sounds like it's not really that partnerships aren't working, it's moreso that you feel like your % is no longer fair? 

It sounds like I should be good.

Sounds like they make money in some other ways like origination fees or taking equity from short sales but I doubt that happens often. 

I don't know how long you've been in the industry, but if it sounds too good to be true, it usually is, especially when there is so much scam stuff happening in the hard/private money side of things still. 

As bad as that all sounds, ALL of these issues could have been taken care of before closing and repaired or her buyers could have backed out of the deal.