Gross Rent minus:Principle and InterestTaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and Ops (my personal minimum is $150/roof/month)InsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)

My point is, is there an inherent advantage in executing the OP's strategy, which requires you to live in the property for 2 years and then sell, versus buying and holding an investment property for two years and then selling through a 1031?

My partner is in a better place in terms of capital and I am handling ops (I'm a licensed Realtor in DE and PA and manage a KW office).

Learn how to skip trace OP and starting hitting the phones.

Andrew, essentially you are saying the best way to go about this situation is to refinance the property through the OP's personal income?  

Thank you for correcting and getting proper info to OP.

My earlier post was mostly to show that it's unlikely to get to the OP's goal by purchasing 13% COC properties. 20% COC would get him there and if he is willing to do BRRR he can even surpass his goal, but it will certainly need a lot of work, collaboration, and perseverance.  

Talk to the OP - - I know this but the caution was to him.

Also 50% expenses, especially if they are house-hacking/self managing, would be quite high (unless the property is pre-1925-ish and already needs a lot of work).Ultimately the OP will consider where to invest and what cap they're willing to accept based on their personal goals and specific investment philosophy.  

When I pay another Brokerage a co-op commission, am I supposed to be 1099'ing them?