Long story short, how can I create a mutually beneficial partnership with friends who have cash ready to invest?

I have heard quite a few "choice" words shared over it.

I usually give them 3 choices (although I have never inherited a tenantFor example1) $100 increase for 12 months2) $50 increase 24 months'3) $300 increase for month to monthAlong with a reminder that if they don't renew their lease they need to give notice.

@Cameron Vigil I think this answer is entirely subjective and it seems that you have made your choice when you say that you feel it's a better fit for your personality to pay everything off before jumping into more debt of any kind.

I had written up a little proposal about why lending to me would be beneficial to her and her husband (she is my landlord and the real estate business is kind of her thing), why lending to me is safe, as well as lay out a couple lending strategies.

Your choice to remodel or not will depend on what your target market and what your competition is doing. 

I think combining both properties on one deed would be beneficial to any exit strategy.I know I came off harsh and apologize to @Shawn Holsapple for that, but it is definitely not a path I would choose. 

I am sure you'd find it beneficial. 

Although several people touted the S Minneapolis triplex as I good choice for an owner occupant, it seems that investors are raising the prices. 

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