My partner however has substantial income, north of $500k annually and ~750 FICO. 1 mortgage for personal home ~$5k/mo.Thanks for reading! 

From Gordon Gekko to Bernie Sanders to The Wolf of Wall Street, Main Street has continued to cry foul and yet bonuses are as big as ever, even after the taxpayers bailed out the banks.

It looks like net annual returns of around $30,000/acre, starting the 2nd year.

If you just average the cash flow over the five years at $1200 (again just making this example simple, it's a bit more complex than this) you get an average annual return of 20%.

Agree with @John Underwood...There is usually another scavenger sale for properties that don't go on the annual tax sale but it is not advertised.  

Offer her 8% annually or 50/50 split in profits. 

Additional Info I received from sellercurrent tax assessment $54,900 Annual Taxes 1344.82 Operating statement attached.

It brings in what it brings in, and those are the annual numbers you would need to use.I will warn you that unless there is potential for a lot of upside on the rents , this place will probably be a heartbreaker.

 $25,000,000.00 in total value of all real estate and 8 million in net worth and $500,000.00 in annual cash flow wouldn't be bad either.  

But the status quo is to not ask, I guess...in the CC&Rs it says we have to ask for every exterior change except annual flowers!