After doing this a few times, your properties can basically pay for themselves. 

This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

If they didn't even offer to pay it back, then I wouldn't renew their lease when the time comes. 

I am looking to buy into a family members property and be 50/50 partners after paying them half of their current equity in the property.

I need to pay him back How would you go about it ?

I went into contract with him just a little over what I would normally pay.

As you know, Florida and other coastal areas have been hit with some pretty catastrophic hurricane damage in recent years, and the same insurance carriers who have been paying out those claims are the ones writing policies here. 

take it easy on me.I have 4 tenants paying well below fair market rent. 

SiblingRenter pays market rent.

We paid of the mortgage about 2-3 years ago, so I’m assuming we would only have to pay for the title transfer.