If that is the case, it is unlikely that the bank will be interested in maintaining the note, even if you caught up on payments and penalties, and I don't believe they have any obligation to do so once they receive that judgement.

You might just be stuck doing a bit of tuck pointing on the side you don't own if the neighbor won't maintain their section.

Most require you to wait for a quote and Im trying to move faster than all that.Recent Lesson Learned:  If your treating butcher block countertops or wood shelving, consider "waterlox" because it really seals in the wood while maintaining its original authentic appearance. 

For example it's pretty well known that reverse mortgage lenders, once the home approaches being underwater, are very quick to enforce the provisions saying that property taxes must be kept current, and adequate homeowner's insurance must be maintained.

This is why now I am going to consider taking the following steps before choosing a partner:Walkthrough their properties to see how well managed and maintained their properties are.Spend a week with them in personSee how they treat their familySee how they treat their friendsGo to a restraint with them to see how they treat the waitersI believe that knowing how they treat others is necessary because that’s how they may treat you too.

It is relatively well maintained and owner changed the roof in 2011 and water heater in 2020. 

As you mentioned, there was an element of both luck and a good deal (though it's a 200 year old house, so the major improvement pains are yet to be seen...the house was greatly maintained and updated by the former owner, thankfully). 

I should add that the lease that the tenant signed states that the tenant shall: Cut the grass and maintain the shrubbery.

@AJ Satcher You put everything aside until you have a comfortable reserve then maintain that minimum amount.

I have a very busy job (which I love) and also busy family life and hence I think it will be difficult for me to manage/maintain more than 2 properties (or a maximum of 3 properties).