Just to say that you've never done it, inventory is getting thinner, competition for remaining flip deals is higher, margins thinner, and you're not paying cash to get a great deal - but you're also not putting your partner's money and credit at risk?

It sounds like to me the landlord and the property manager are on the inexperienced side some and tenant is a professional one wheeling and dealing.Tenants that are scammers can sniff out new blood a mile away.

I was a home owner in the Michigan area at the time and I know my particular property value dropped about 40-50% alone, so I certainly am not oblivious to how much of blood bath it really was, but I also know (think) that certain states were hit a lot harder than others. 

If your down payment is thinner (and you can find it) you should expect to pay more for the money you are borrowing.

When there is blood in the streets, buy property!

We’ve found lots of swords, a cat skeleton, and a big stain of blood under ruined carpet.

Avoid any neighborhood that has more than two chalkoutlines and or pools of blood per block!

Pockets of blood can ruin the taste.

3, 2, 1....Let the blood bath begin!

Put houses 1, 2, 3, 4, 5 under ABC LLC, then have another company on its own, XYZ LLC that holds properties 6, 7, 8 ,9 an so on.However, for one thing, you aren't in New York City or San Fransisco, you're in pure red blooded Republic Party held corporate loving, consumer despising, tenant hating Oklahoma!