@Odie Ayaga this is My third purchase purchase and rehab.

According to the seller's agent, the first tenant has lived there for 16 years, second tenant 6 years and third tenant 6 months.

@Angelique WeberSplit it into thirds or don't partner.

Here is a third bullet from the article above:"Dramatically extend the CARES Act’s eviction moratorium to apply to virtually all single family and multifamily rental housing and suspend the collection of fees and halt eviction cases due to nonpayment of rent for 12 months from the date of enactment.

My new PM is pretty laid back and he'll resign a lease for $100; finding a tenant I think he said he'll charge a third of a month's rent.

I am marketing the property as Luxury and therefore don't want tiny bedrooms in order to add the third, but can make it work. 

We're looking to purchase our third rental property in the foothills of Tucson, Arizona. 

It would take 20+ years of negative cash flow to equal cash already out the door.There is a sweet spot but numbers are not the only thing, you need to weigh the risk and many other factors such as property location potential for appreciation, property condition...A property in Pittsburgh area with 20% down and 100/month cash flow is not a good deal but if that was in DC you would be celebrating by doing backflips.So lots to ponder but key is never over leverage

I thought you would have to only go through a third party, thank you.

I assume you will have third party property management so they will prepare the books every month. then you could get some investor management software that automate the calculation for investors.