I am sitting down with my local bank early next week to discuss the options. 

@David Jenkins Ultimately, we can all sit around and debate what is best for you.

He is holding strong on him doing NOTHING other than provide 50% of the upfront cash while wanting 50% of the assets.As a side note, he (my friend) is sitting on a huge pile of liquid assets to use towards "investing".I know he is very nervous going into REI, but if we pull this off and he feels comfortable I know we can take down many more properties.

The place is something like 350 units total sitting on about 70 acres of land and the closest neighborhood w houses is about a a mile away from my unit, so I don't feel like dragging a mower all the way out.

@Aaron Deane@Jason Carter just gave you the holy grail for getting things done while sitting in your office.

@Jon S., It worked great.

The ones renting for cheaper are sitting longer.

Currently sitting in a 5/1 ARM, at my 6th year and set to adjust in November.

Gone are the days where you sit down in person with your accountant.  

Sit back and relax for a few days while the 10 days runs out and know its all being taken care of because you've paid someone to do just that.