If that is the case you will need to hire a property manager who will likely charge 8-10% of the monthly rental income.

@Mitrah Rasti the deed and loan are separate issues.Your partner should be able Quit Claim her ownership to you without triggering the lender's due on sale clause - as one of the lendees (you) will still be on the deed.You should check with your local municipality to make sure how this may impact your property taxes.You should also check with a tax professional to see if there will be any income tax impacts of the Quit Claim.Lastly, NONE of this will remove your partner's name from the loan.

Experienced investors frequently share their tactics, advice, and success stories at these gatherings.Be Proactive and Persistent: Networking takes time and effort, so be proactive in reaching out to investors and professionals in the Lawrence/KC area.

As a professional, I will be fine.

Purchase price: $300,000 Cash invested: $85,000 Professionally remodeled home in the coveted Crescent Hill neighborhood!

@Ran Fridman it's highly likely if you talk to a tax professional that they will advise against a cash-out refinance before you sell your property for an exchange.

@Henry SimsThe more professional way would be to have Note and Mortgage document drafted by an attorney. 

why not hire a professional PM

I was not ready to handle that, and my mindset was to increase it to a B grade property instead of leave it where it is Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you're not going to actually use your license to become a real estate professional, I think there's little value.