If your goal is to eventually solicit from people who are not your friends and are looking for passive income, then you need to consider establishing a syndicate.

I bought a duplex, move in condition, Newley renovated.

My presentations were geared towards new construction, but there are ways to improve existing homes as well.The main keys are to understand how energy (heat/cold) moves through houses and how to eliminate the weak links in heat loss/gain. 

Peter,One thing I know is loopholes, creative move arounds and guide lines, if I can help in any way I would be happy. 

This approach allowed us to move quickly and efficiently, ensuring a seamless transaction.

I'd talk to a lawyer about drawing up an operating agreement if you both want to move forward. 

Albuquerque's rental and resale market, historically speaking, is very stable and the market moves at a healthy pace.

However, the PM recently moved to app folio. 

Unfortunately, the majority of investors that experience terrible service from turnkey companies, figure out that it's not worth spending tens of thousands of dollars suing their turnkey provider and just move on - which allows the turnkey provider to not change their ways and stay in business:(You should also check out this BP thread about the topic:https://www.biggerpockets.com/forums/88/topics/976647-turnkey-company-suggestion?

Your decision should balance financial prudence with your long-term goals.