We don't have an immediate need for the cash and are open to keeping it with the lender for a while, but hate feel like keeping that much money tied up forever defeats the purpose of the refi. 

I am confused as to why they wouldn’t have just formed a multi-member LLC and both have limited liability versus the LLLP structure that seems to mandate one person to be listed as the general partner (who now has personal liability) and in my opinion appears to defeat the whole purpose of creating the entity in the first place.

And putting your W-2 money toward paying the loan basically defeats the purpose of having cash flowing rental property, doesn’t it?

Which pretty much defeats the entire purpose of signing her agreement in the first place.

Baby steps first, learn to crawl before you walk, make measured progress, accept inevitable defeat and come back stronger, control what you can and learn to avoid trying to control what you can't...you can tell the suckers who fall hard for the time pitch the same things over and over again, but, well, they're SUCKERS.

NYC really set a tough precedent with their basic Cart Blanche defeat of AirBNB back in 2011, then AirBNBs own home base SF in 2014, and dominoes in many major metros after that, now spreading to smaller cities.

I also agree that making this too complicated can turn off clients and in the end, defeat the purpose of maximizing growth. 

There can be additional costs down the road that you can't contribute to - and that would defeat the purpose of you being an equity owner because you'd just leach off your partner.Also, it may cause issues in getting financing.

I doubt that FCI would touch a wrap unless the wrapped lender consented, which would defeat the purpose of doing a sub2.

Ps- a lot of banks said they could refinance sooner, but they would only allow us to pull out the purchase price, which kind of defeats the purpose, so we are just waiting.