Recourse. 1/2 point orig feeMinor prepay (2,2,1,1)Local bankI got a Freddie loan offer in same building that was better in every way. 80% LTV4.1% fixed 10 year30 year am Non recourse Terrible prepay (yield maintenance.

They have two dogs that they keep downstairs and the smell in the lower level is terrible.

They have two dogs that they keep downstairs and the smell in the lower level is terrible.

@Burke Ericson I have to ask, why are you going from one property that has made you that much money and I'm assuming wasn't terribly hard to manage to going into 20 different properties that will be difficult to manage.

Big negative for the house is that the current owner, a retired gentleman who is a smoker, has therefore made it smell like an ash tray (was painted in the last few years, so no terrible stains) and therefore will get rid of carpet and replace with laminate, and seal and paint throughout.

That's terrible.

Terrible idea.Yes, eviction is your answer to get some results.Unless we're missing details, it sounds like you need a better PM.

That is a terrible foot to start off on, letting them manipulate you before they even live in your house!

As our first condo, I think it worked out pretty well, and so we're ready to expand and pick up another 1 (or 3) :).We had a terrible time trying to get funding on the condo (we were trying to come in with a conventional loan at the time that people were snatching up condos in cash), which is one of the reasons why I'm coming to BP.

Pros: They keep you accountable, they have skills that you lack, spread out the risk, another person to run ideas past and review possible deals, less initial capital outlay on your partCons: You have to split the profit, you might disagree or have different ideas and goals, you lose a degree of control.In short, partnerships can be great but they can also be terrible.