The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

the answer i'm giving is based on the assumption that you do not want to / can not float the negative cashflow any longer. and note: even if appreciation / debt paydown / tax benefits strongly outweighed the negative cashflow, most investors wouldn't want to / couldn't float that. so that said, i say SELL. you have just over a million dollars in equity (minus transactional costs when you sell), and you could do a 1031 exchange into a ~4 million dollar CASHFLOWING property. i invest long distance into value-add multifamily on the west side of chicago. gearing up for my next deal right now. in that price range you could easily get a value-add multifamily with potential to cashflow 15k/mo+++ (up to 40k/mo) once it reaches its full potential. it sounds like you're in markets that are probably strong for appreciation and weak for cashflow (with the long term rental strategy). if cashflow is your goal, 1031 into value-add multifamily in a higher-cashflow area. don't let having to pay commissions during the sale stop you. you're already losing so much annually; you have to stop the bleeding at some point. also note that right now, with the way these two properties are losing money, that might negatively affect your borrowing power when you go to buy the family home. feel free to dm me if i can help in any way!

Here are some considerations:Pros of Using a Hard Money Lender:Speed: Compared to standard lenders, hard money lenders can provide quicker approval and financing processes, which lets you take advantage of time-sensitive possibilities.Flexibility: It may be simpler to obtain financing if HMLs are more accommodating when it comes to credit history and property condition standards.Access to Funds: You may take advantage of more investment opportunities by having quicker access to the equity in your property.Experience: For first-time investors in particular, certain hard money lenders offer invaluable experience and advice that can be helpful in navigating the fix and flip process.Cons of Using a Hard Money Lender:Greater Costs: Hard money loans might have interest rates and other costs that are greater than those associated with standard financing sources, which raises the project's total cost.Term Length: HMLs normally provide loan durations that are shorter, usually lasting between six months and a few years.

Is there a way to do this legally that would provide a tax benefit?

I have one partner onboard who’s providing quite a bit of capital.

I don't have a general warranty deed so therefore  I can't provide only.

Both conversations are going to provide you with a better understanding of the need and requirements prior to getting too far down the road with negotiating a purchase agreement with a property owner. 

@Matthew PinkstonI am all in for the meetup.com idea and excited to provide inputs.

Be sincere, willing to help, and receptive to picking up tips from other real estate professionals.Remember that networking is a two-way street, so you should also be prepared to help and provide value to others.

You can potentially find undervalued properties, rehab them efficiently, and achieve good rental income.Decent rents: $1000-$1600 rents provide a strong foundation for positive cash flow after factoring in rehab costs and ongoing expenses.Cons to consider:Market competition: Investigate how many other investors are using BRRRR in Wichita.