I found someone, who I trust, who wants to partner up because she has been wanting to invest in this building herself and she wants to bring all of the cash for the renovation, but also wants to split equity 50/50 (or something along that line, maybe 49/51) since she would not realize any gain until we sell. 

@Matt Roth Make friends with commercial brokers that only buy/sell. 

Comps that are clean but outdated are selling for $100k - $130k Thank you!

Is she buy-side or sell-side?

I am looking to reinvest in a different market after selling my rental in SF, CA and I am very interested in the NC market.

As a result, I received early notice he was looking to sell.

  $1.5M mortgage, 30-year-fixed at 2.5% so I really do not want to sell or refi.I've looked at equity co-investment outfits like Point and Hometap, but the deal terms seem atrocious. 

Also depends if you plan to sell those and move to bigger rentals of if you plan on staying with 2-4 doors. 

You won’t be living here forever, so ideally having an exit strategy is key to figure out how to maximize your money when time to sell

Then I sell when others decide to show up.