Here are the details:Bought in 2015Owes - $45kNeeds additional $20-25k as a down payment on the new house for equity.Rate - 6.125% (Adjustable Rate Mortgage) Max is 8%PITI - roughly $700/monthHouse is in great condition so no rehabAsking $175,000, could sell on market for $220-230kRents - $1400-1600How would one structure this deal?

Consider that the other unit is paying or close to paying the debt service and you have little to no house payment. 

Or do you hire a pool service and roll it into the rent? 

However, I just tried to call the number you submitted and the phone number is not in service. give me a call or email so we can connect!

Additionally, these attract a lot of inexperienced buyers who started in the single family or four plex space who are trying to go bigger. 

You'll struggle with the debt service at that rate after expenses on a property that size. 

Usually you can add additional support and fix this problem but I did run into one house where there was a single center support running through the middle of the house that was entirely rotted and the only way to get a new support of the appropriate length in would have been to take out a portion of the basement and first floor walls.

On top of that, there's a bill working it's way through the state to add an additional sales tax on real estate.

FINANCIAL CONTRIBUTIONS:1.1 Party 1 Responsibilities:Party 1 shall contribute to the partnership for the down payment, closing costs, and construction costs for renovations and additions.1.2 Party 2 Responsibilities:Party 2 shall independently pay the mortgage until both properties are rented, oversee construction and renovation, manage both rentals, and handle bookkeeping during construction.2.

I talked to asset protection companies, Prime Corporate Services and Anderson Business Advisors (both have mixed reviews).