However, isn't it only fair that I should be allowed to market the property properly and receive 65%.

So loosing a last name of the partner in the title would not allow me to 1031 I'f the partner cashes out; correct? 

Not being there and knowing the local market, I still think there may be an option to hold that house and deal with the negative CF for a year or two....allowing the natural market equity increase to catch up.

As an investor, I've seen far too many people allow their emotions get the best of them and fall into that trap.

That's why you need the HOA, because they implement your private CC&Rs which allow for the greater density...so ANY townhouse/condo you buy you should have anticipated that there were likely some shared services...if there weren't then you wouldn't need the HOA...

Do you charge and how much.Acceptable Vacancy Rate - we own a reasonable # of doors in the city of Milwaukee - not great areas but not horrible either.Thanks in advance State laws dictate what you can charge for a late fee (in DE we have a 5-day grace period and the maximum allowable late fee is 5% of the rent amount) so look at your landlord-tenant code for this.As far as pet fees, it is also capped per the landlord-tenant code for our state at one month's rent.Too many variables to address your vacancy rate question.  

Allowed people to reserve lots.5.

Just for the kitchen it would take at least 10k...It’s not allowing me to send pictures via message.  

Joining Facebook groups (posting properties on Facebook groups as well) and utilizing Furnished Finder, Zillow, Airbnb/VRBO (30+ day stays), insurance placement companies, etc will allow you to maximize profits/property potential and stay nimble. 

That will allow you to refi or sell individual homes, or smaller blocks of homes to free up capital/lending capacity.