A property or some properties can't lose money, it is the management's fault, then you have to figure out why they're not doing their job then fire all of them and then look at how you can structure that property and make it make money especially if it's in a market where it should not be failing anyway. 

If a fire occurs and it is deemed that the wiring that the tenant was complaining about was the source of the fire, then you are liable.Consider bringing out an electrician as an insurance policy.

Maybe a fire wood loading hole someone covered up with whatever they had laying around? 

This cabin burned down during the Gatlinburg fires and was rebuilt using the original plumbing lines. 

Get a high paying job and maximize your income and you have to worry about missing your kids grow up while you work 50+ hours/week and you could get fired at any time losing your source of income. 

Excited and fired up.

Still without seeing it and knowing I would put most of them out and fire management.

If you are not able to perform, per your partnership agreement, he could “fire” you and perhaps pay you a finder fee of some sort (or nothing since you’d likely be leaving him with an out-of-state mess).If the deal goes as planned, you would split any profit from the sale after all of his costs were subtracted.On the other hand, your friend could fund the purchase to you as a private loan using professionally prepared loan documents.

Keep those neural pathways firing.

Although I understand the truth in your advice, trial by fire doesn't seem like the right approach here.