The house is in good condition, AC and roof are 5 years old.Generally I keep $2000/year towards maintenance when I buy houses that are 5-15 years old in this price range.

Returns where  -98.3% .I got a check for  $1751..

For experienced investors, do you see a scenario where an investor would assume the properties at a reduced rate which would allow us to cash out and them the opportunity to earn some easy money while holding the properties.For example: Say if we wait, we will sell the properties for $1M.

@Garrett Brown happy to have heard from someone that does this!

My mortgage is 3385 and I rent out at 4000/mo. 

Depending on the investment and your current knowledge, this can take from 2 to 20 hours of research.2, Spend $400 - $600 for 2 hours consultation with an attorney who specializes in real estate IN THE STATE that the underlying property is located in.3.

That’s the question, how or why would I do this partnership?

I have not been able to get ahold of him in the past few weeks and he has made no effort to reach out to me with a plan to pay his past due rent.

I work in a market where "cheap properties can be the most expensive" so I'm curious to see how that montra checks out in other markets as well.  

I have boots on the ground (my business partner & agent) who informed me of the rough state the neighborhood is in.