Consulting with a pest control and mold remediation professional could give you a clearer idea of the potential scope and cost before making a decision.

Find a good property being totally mismanaged - offer to purchase 60% and take operational control selling your property management expertise and future profitability, providing property owner/seller with enough cash to pay off his pressing debts keeping current loan in place. 

I work  with investors that are staring their investment journey this way and they find that they can get control of a great property for a small down payment.  

Bush-5%Republican2012Obama14%Democrat2016Obama16%Democrat2020Trump6%Republican2024Biden12%Democrat​Historical data reveals no correlation between the presidential party in office and housing price growth or stock market performance.The stock market is driven by emotions in the short term and by corporate performance in the long term.

If that's your plan, I'd just say let the numbers influence the purchase more than emotions. 

Not sure who you could talk into doing this.. you lose all control..

But if you both want to own/control the properties it probably makes more sense to have a legal entity.

It's directly manipulated by the Federal Reserve via quantitative easing, yield curve control, and short term manipulation of Fed Funds rate.Over the next 40 years, there will be a Minske Moment when people realize that (without reserve currency status, and the ability to counterfeit our own currency ad infinitum) the U.S Treasury is an objectively insolvent entity.

However, you can't apply any of these restrictions for assistance animals like a guide dog or an emotional support animal. 

If your lease doesn't explicitly address pest control responsibilities, it’s worth reviewing and considering adding a pest clause in the future to prevent disputes by adding every single pest.