Many of my properties in Wilmington are simply old and have not level floors.

Seeking guidance on how best to exit a partnership mid-flip and the tax implications I should prepare for.Detail and timelineI bought a duplex in January for cash - standard closing with the buyerIn May I let a partner buy into the deal with cash and had his name added to the deedthere was no recorded transfer of $$ at this closingMy partner is now offering additional cash to buy me out of the partnership and take over 100% of the dealHoping to better understand at a high level what the typical path forward would look like in this scenario ?

No commercial lenders will talk to you at the $20K level (about $50-60K would be the bottom end), but private money and some hard money lenders might be an option.Flipping of houses is considered a business and is therefore not entirely tax-sheltered in the IRA. 

To make a decision on the route to take, you have to do some homework first which entails, learning how much $$ you have/need for each, how much financing if any will you be qualified for, what's your level of expertise in either, will you have partners going in, do you have the team of qualified professionals for each.

I don't have anyone in my family or friends that's owned real estate so it's hard to find someone to lead me in the right direction.Property is a fourplex in a mid level neighborhood.

Look at your own risk tolerance and stay within your own comfort level. 

I think whether turnkeys are good for out-of-state investors completely depends on:the investor's goals and interest levels in what kind of investing they want to dowhat turnkey company they work with and what they buywhether or not the investor is prepared to do their own due diligence and maintain an eyeball on what is going on with the property, even when other people are primarily managing itI've almost always bought turnkeys out-of-state and I've loved them.

I could imagine a commercial level LVP could handle a few keg parties.  

Because my husband cannot walk very well, and he is very slow to do anything, when he has enough energy to do anything, I had to clean out our two car garage of all his tools and all the stuff in it, as well as pack all our stuff in the house, and I worked day and night.Had to call for a special pickup for all the junk that we had to throw away, that I alone had to haul out to the curb by myself. 

It is definitely possible, but the question here would be how long would it take to reach the level of appreciation that you are looking to achieve.