How does one fund properties with low credit scores🤔.

Got it, I guess it depends on what you perceive as the greater risk, property damage or rent collection.

I have also told him that we would split the renovation and whatever percentage of the renovation each of us pay, then we will retain that percent in equity depending on the increase in assessed value, post renovations.

For countertops I use laminate for all of them but that could well be market dependent.

That's your problem.One answer is to dissolve the entity and distribute the properties to each partner as tenants in common (you could give a property to each, or you could each be 50-50 on every property - all depends on how you and your accountant want to set it up). 

How you proceed will depend on a few factors:- financing will depend on your exit strategy - you'll be best off if you can decided the exit plan (LTR, MTR, or STR) before buying- Since you're not employed and living on savings, what is your burn rate and your cash runway?

It honestly depends on your strategy - LTR, STR, flip, wholesale, etc. the tenant / landlord laws in CA are in favor of the tenant which often scares people.

Depending on where you're pcsing to, you may be able to manage the property yourself or at least do a trial run.

@Param PatelIt depends on the market.

If living there is still on the table it sounds like a good option to stay and enjoy the position you're in, with a lower interest rate (depending how/when it will adjust), rather than entering this tough market with higher prices and rates, where buying a similar house will have a much higher monthly payment.