Here, I have a TownHouse in Tempe that nets $525/mo and has doubled in equity since purchased ( March 2020 ).

So essentially it’s a rental now without cash flow.I have at least $180,000 in equity in the property.

Still house hack and hope to pay what your currently paying.You should also look at your return on equity at your current home. since you have over 200k in equity how much cash flow will you be receiving from that?

I'm pretty much just sitting on the built in equity and cash flowing decently until I choose to refinance.

in equity, i went to see the house again and looked under at the foundation and there were cynder blocks holding it up and since it was gettin dark when i first took a look and theres no electricity in the house i didnt notice the bowing in the bathroom floor and major cracks in the walls from the foundation shifting or the earth shifting and messing up the pier beam foundation.

If that were you, you would have 100k in equity you could find a way to get out and buy another duplex.  

If you were to put funds into building a stick built house, if done right, you would have some built in equity from the get.

.- Purchase price in the $130-140k range (aware this could trigger potential gift tax, looking for advice here)- Interest rate of ~7% results in P&I of $874/mo (assuming no money down, using the built-in equity), market rent in the area is $1700-$1800 for comparable properties. - Property is in good shape and only needs $10-15k of improvements.Below I've listed the financials of our joint partnership:- Access to roughly $40k in Cash- 700 & 780 credit scores- Joint Income of $300k+, $400k+ including spousal incomes - Both of us have sub 20% debt-to-income- One partner highly skilled in managing people, and plan to have him be the “people” side of the business (screening tenants, working with contractors, etc) Other is experienced accountant that will manage flow of money, refinancing down the road, financial reporting, tax, etc.Main questions:How should we joint purchase the property?

I got rid of the PMI last month and the assessment came back with 400k in equity with an initial investment of 50k. 

You see I just have 20% in equity in my 4plex which Is a FHA by refinancing  on LTV I get lower interest rates and eliminate mortgage insurance which should add up to 500  a month in cashflow.