I just sold this week a rental townhouse and with the proceeds I'm buying 3 more rentals!

Would you recommend to still proceed if numbers make sense? 

The Trustee can either sell the real property as the Trustee and deposit the sale proceeds into a trust account or transfer the title to themselves (as beneficiary) and then sell it.An irrevocable trust, on the other hand, cannot be amended or revoked by the grantor without the consent of the beneficiaries.

I'm assuming they'd have me file eviction paperwork and then file for order of possession after noone shows up to the eviction proceeding. 

You could sell the property and use take the proceeds flip more properties to invest in larger long term deals or just keep compounding the cash until you're ready to retire and then buy larger deals or invest in others deals.

He is willing to put up about $400K, and I would put up about $400k from the proceeds of my home sale and we would buy a new house together cash for around $800K.I was ecstatic about this idea  and planned to do it,  but recently I have thought of another possibility...What if i just sold a % of my property to him?  

@Glen Holmen-  sell ....use proceeds to payoff  any debt....reinvest the  remainder .....this way they are simplifying  their lives / getting debt  free  /  investing  to  generate more income ....... things you  dont mention is  their  current other  income sources / their current other  assets ....consult  with their  financial  advisor  for  options  .....if they have  a primary with lots  of  equity - a reverse mortgage is  also  a source for  oncome ( if needed )

And, all of the net proceeds from the sale of your share of the relinquished property must be reinvested in the acquisition of the replacement property.

just wondering if you all bashed the last dictator as much?

The second month's rental proceeds had all eight months of fees deducted, and the remainder ($70) was sent to me in lieu of the mortgage payment ($500).Can the property manager keep all the fees without managing if the new owner "repudiated" and then backtracked?