Get your lawyer to adjust the terms to include additional partners.Never operate any partnership without a legal binding contract.

I had an engineer over last week who told me that in order for my retrofit to be code compliant (Chapter A3) we will have to add an additional shear wall under the house, which will be big $$$.I'm currently working through my options, and was hoping to get some insight from the forum on what my best path forward is.1) Do nothing and leave the house as is.

For example, when selling an automobile to acquire funds which will be used as a source of down payment or for closing costs, the lender will usually require the bill of sale (in addition to other items) to help document this source of funds.biweekly mortgageA mortgage in which you make payments every two weeks instead of once a month.

I am with @Tim Swierczek here - tenants are not going to pay the same amount of rent for unit that they also have to pay additional utilities. 

Am i taking on additional risk since they do not have experience? 

I believe the next one is planned for mid Nov in Austin, TX.Here are a few resources that I found valuable when I was learning about the details of investing in mobile home parks:Books: Mobile Home Park 10/20 Investment System by Dave Reynolds, Frank RolfeMobile Home Wealth Part 2: How to Become Even Wealthier investing in Mobile Home Parks by Zalman Velvet, Stuart SilverThe New Investor's Guide to Owning A Mobile Home Parkby Laura Cochran, Erin CochranThe 21 Biggest Mistakes Investors Make When Purchasing Their First Park and How To Avoid Them by Charles DeHart and Kevin Bupp (available for free from www.mobilehomeparkacademy.com)Podcasts: The Mobile Home Park Investing Podcast with Kevin Bupp and Charles DeHartMobile Home Park Investors with Jefferson Lilly & Brad JohnsonMobile Home Park Mastery with Frank Rolfe Websites/Blogs: Park Street Partners - http://parkstreetpartners.com - This is the investment firm run by Jefferson Lilly and Brad Johnson.

.,   Yes, I do understand there is extra overhead in terms of time and cost with having an employee, but an employee you develop with the business could be MUCH more valuable than a contractor.

Single Family Home (East End Louisville)- Originally my primary residence ($209k)- Property is in our personal names (not in LLC)- Comps in the neighborhood are $285k- Built in 2002- In well established  neighborhood w/ middle income families- On 15 year 2.99% mortgage w/ 8 years remaining and $115k principal balance- Currently rents for $2,185 month/$26,200 annually- NOI $16,320- Cashflow $4,500/annually - $12k principal pay-down annual (current year)- Currently getting less than 3% return on our equityOriginal goal was to not cash flow but pay off property, allow appreciation, sell property at end of loan and use capital for additional projects. 

This or marijuana could restore the teachers pension and provide plenty of additional revenue. 

Your wife isn't looking to manage any additional properties, is she?