If one partner dies, what happens?

Don't solely rely on third-party management companies; instead, focus on building a solid asset management plan and, if needed, bring in experts or partners who excel in this field.

They partnered with an experienced realtor who handled most of the contractor coordination while they focused on financing and design decisions..

Currently I and my business partner own 2 town houses, one is a 4 bed 2 bath.

Young couple, late 20s, only one is steadily working but make 130k, partner would be the occupant, no pets. 705 credit but only because she doesn't have a lot of credit. 

You can read a book and multiple books, but unless you are out there doing it (I.e. getting bids and getting contractors to truly get you an exact estimate) you will be far off from the numbers you want and may even lose money on the flip/rehab.The best advice I would suggest in my experience is that you should get into the line of work by either partnering with someone or working with someone on some projects prior to going into a flip on your own.

On one deal ultimate my partner and I went $140k if youOUT OF POCKET when we lost all but one paying tenant after March 2020 (Covid).

You could also bring in a partner to buy out 1/2 of your equity position. 

Renting, like hiring an employee, taking on a business partner or client and marring (even more so), are relationships that can be costly if made hastily or imprudently.Like others, I have check lists that I do not deviate from. 

However, we’re partnered with them, so if you use TurboTenant for property management, you can easily integrate their services with ours.