Really nice with 24 hr security and gated.I might have to give in.If that is the complex I am thinking of it may have some extra strict ratio rental restrictions...waiting list when I checked.

Fannie caps you at 10, hidden overlays may be more restrictive.

I️ know an attorney who lends and he doesn’t have legal fee.

But you will not be able to pre-finance based on future ARV with a retail lender...which is the impossible task you seem to want to do...UNLESS you go the 203(k) route which is expensive and restrictive unless you already have the perfect GC lined up.

If property was free and clear, then the owner of the property should get the fair market value first from proceeds of the sale.What was the purpose to do 50/50 and how do you legally wrote that house contribution?

@Bruce Lynn Looking for a real estate attorney to help me through the legal aspects of acquiring a small apartment building.

You signed a legal binding contract that can not be ignored simply due to a personal decision where by you now do not wish to live in the building.

Agreement will be affected by number of other factors as well so its better to get a legal consultation. 

I should add that I am in California, but if you follow the rules and read the contracts (and have an assist from a legal team), its not that bad.

Maybe I am overthinking this but was trying to think in terms of the principles of consolidations and was curious what everyone's experience has been and the flow of funds to legal entities.