Congrats on having no consumer debt and cash in the bank. 

But what's going on beneath the surface is that an all-consuming fear runs through the place.Don't get sick. 

My father recently passed away, he left behind a modest amount of assets.

We've purchase very modest 2/1 houses with a small yard and garage/carport and they've been pretty steady.

Like any contract or lease agreement, you should consult an attorney about drafting one as well as any ancillary steps you ought to take to avoid consumer finance protection scrutiny.

It looks like it will be very time consuming and expensive over the next year for an out of state owner.

Therefore they have become JV partners, after being involved for a few months a couple of them have told me that this business is way too complicated and time-consuming, therefore just keep them periodically updated and let them know when we make some money, LOL.Case in Point.  

Currently that's my only source of consumer debt outside of my cheap car and it'd be great to have that off my shoulders.I've considered renting out the condo down the line, but the #s don't really add up to me and more than likely would be 4+ hours away from the unit in the next few years so would need a property management company which makes cashflow that much worse.

The action here is all in the cashflow.Fill out "Individual Rental Income from Investment Property(s) (up to 10 properties)" here.If the bottom line net cashflow number is 2.5x your personal housing expense (typically PITI on your primary residence) and you have no other consumer debts, then assuming no overlays you can get vanilla Fannie loans.

The big old kicker is that i have about 45-50k in random consumer debt that i would love to just pay off and free up so much cashflow to save, invest, vacation etc.