Plenty of families come to me with trusts that were poorly drafted or just not practical to administrate.

Brian Stone There are a couple of things you need to consider before making this decision.

The PRO account was one of the best decisions I have made since joining the discussion on Bigger Pockets.

But many people have prospered without such advice, and more power to them.My mentor has helped me with decisions that I simply did not have the base of experience to figure out by myself.

be ready to make a quick decision.

He as a PM had nothing to do with placing that tenant so he would not be saddled by a poor choice by a desperate or inexperienced Landlord, if he did help place the tenant(with LL approval and criteria of course) then his time spent on an eviction or whatever would be free as he had a hand if the tenant placement and therefor his job was to rectify the situation and get a new tenant in place as quickly as possible.

If you could get the payments down drastically so rent covers PITI, HOA and most of the expenses, then it might be easier to refinance now, then make the decision to rent it out and move closer to your parents in a year or so.

I am unsure if it is a wise decision to move those three properties into our partnership?

Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands."

I'd proceed with screening the second applicant and see if they even meet your criteria before making any decisions.