The good ole days of tenants, toilets and taxes have become obsolete for savvy investors who now leverage systems, property managers and good home warranty's with deductibles to be paid by the renter for most repairs to minimize the management headaches! 

You can write some language into the partnership about purchasing minority shareholder's stake after a third party appraisal if things don't pan out.

If I flipped houses I would hate the retail buyer because they don't like the counter top color, or the way the toilet flushes, or whatever.

The bathrooms are 30 years old, but the toilets work even if none of the kids that inherited the thing are up to scrubbing them to it presents well during showings to retail owner occupant buyers (anything that's a cheap fix, that wasn't done prior to listing, is GOOD news for you because it's going to scare off the nesting newlyweds that can/will offer a price based on emotion).

Tenant has a problem toilet?

The strategy we use when we convert warehouses into self storage (MF with no toilets) is we put a conservative amount of debt on them upon completion - typically between 60%-65% of value. 

well, before you have a overflow and get damaged floors, cabinets, CALL A PLUMBER.he'll let you know what the issue was,, why would you hesitate to call plumber..if grease is a factor tell them no grease down drains,, rice is bad also.. anyway not sure what your lease says for maintenance but drains do get clogged and if other units are down line.. line this is top floor, could be backed up in units below also..Toilets, tubs, showers,, yup they'll all need attention from time to time.. 

Rehab to do:Replace 600 sf tile floorRepair pool (or just cover)Full kitchenBathroom vanity, toilet New carpet 609 sfAdd half or full bathFull repaintFix 3 sections of fence Deal or no deal?

I'd skip trying to save money and just buy two new toilets.

We did dual barn doors to separate the bedroom from the closet on the right, and the master bath to the left.Full height shower and toilet room to the left, 2nd fl laundry area to the right.The old master bedroom (we still have to put up shoe molding on the entire 2nd fl)We dug into this room to move a closet in order to accommodate the passageway for the master, so while not ideal, we didn't have a better option.Bed 3Main living room.