I would consider your goals, why did you buy the house, do you have a plan for the extra funds, consider taxes or capital gains-1031 exchange- what are you doing with the house now? 

I am working on my due diligence and new an extra set of eyes.

Would love to have an extra pair of eyes look this over. 

The property has two doors, a 3/1 Single Family House, with a 2/1 Apartment that sits over a 2 car garage and extra storage unit.

The property has two doors, a 3/1 Single Family House, with a 2/1 Apartment that sits over a 2 car garage and extra storage unit.

Sorry, I was saying when the lease ends raise it again, raise it “a lot” to the point where the new extra rent will make it worth it to you or will pay for the PM so you don’t have to deal with it.

We don't charge them extra unless the owner is paying utilities at the property.

You should speak to your partner and tell him that if he wants to do extra for the tenant then it comes from his money, not yours and whomever else you’re partnered with.

There might be a 10% chance an escrow company could hold the money for 1 or 2 big repairs until a licensed and bonded company submitted bills for the repairs to be reimbursed and the extra returned to the seller.

The extra cash infusion would def help lower my own capital expenses for purchase and renovating.