I would act as property manager for the property, and in lue of fees I would put those funds back into the operating account until those funds matched the initial investment that was needed by the other 4 partners. 

Wrapping this all up and getting back to my initial question, how do I calculate rent damages on this.The lawyer had figured how much was owed up to the point in August when the 3 day notice expired.

Initially I thought maybe one person would reply, but many did.

Initially I had no one to help me.

but here we are...Our initial plan is to (conservatively) BRRRR.

During the initial loan period, my goal would be to subdivide the second property (have been given a verbal ok on this by the city zoning)   and then put a prefab up which will also yield $1500/month.   

@Jeffrey AlmonteMy initial notification didn't work... :)

I’ve run the numbers and waiting for better price has potential to return 26k net....on initial investment of 10 DOWN PAYMENT However, I’m looking at 2 more houses with good IRR But can’t jump until I have some more cash flow ( or shouldn’t anyways).

My initial reaction is to not point this out to them until I know what I am doing.

The numbers I put into the calculator were obtained from seller, but not verified.