So the transitionary period needs to be clearly defined.Does this approach to generating an estimate for the transfer sound reasonable? 

It's almost never a good idea to have tenants do their own improvements, for the reasons mentioned as well as the potential liability exposure you'll have to a personal injury claim.If the improvement the tenant wants is something you think will be valuable in marketing the unit in the future, you should sign a written MOA with the tenant, outlining the terms. 

It means you should spread your money out into different things, like different types of real estate, so if one doesn't do well, the others can help keep your money safe.It's like having more than one plan in a game so you can still win, even if one plan doesn't work out.So, remember, when it comes to money and investments, it's smart not to put everything in one place.Lesson: It's essential not to put all your money into a single type of investment.Diversify, which means spreading your money into different types of real estate.This way, if one doesn't do well, the others can help balance things out.Lesson 2: Don't Ignore Warning SignsWhen you're walking down the street and you see a "Wet Floor" sign, it's there for a reason – to warn you about a slippery surface.Just like that, in the world of real estate, there are warning signs too, and you shouldn't ignore them.Imagine you're looking to buy a house, and you notice that the neighborhood is getting quieter, or the houses around it are starting to look run-down.These are warning signs that something might not be quite right.

I did not hear a good reason to sell property one.

And yes not everybody ends up in that position but I see it very often (which is yet another reason I don’t self manage - too close and too little separation between the emotional/ personal attachment and the professional businesslike approach).

In short, “The Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule) requires a creditor to make a reasonable, good faith determination of a consumer's ability to repay a residential mortgage loan according to its terms (Bureau of Consumer Financial Protection).”

All the people I know in that field tell me how busy they are.If that is true, I would suggest one of the strategies my little "tribe" and I apply, where we get out-of-state properties managed by professional property management companies so we only have to spend very little time after the initial purchase is complete.

All I got was someone saying she was his assistant  for but some reason couldn't get him on the line either and she sound like she was at home on her cell phone. 

Its not a reason why someone should have a higher equity stake per say.Spouses and Investors should split purchases between themselves equally to avoid both being on all.

It's also good to know if they are the true GP or have a silent GP partner whose balance sheet is leaned on for the bank guarantee and the sponsor liquidity/equity contribution.