Raising Current Cash Flow to maximize current split by deferring maintenance but harming the long term value of the building.4) Multiple Exit Strategy- If you can't buy your JV partner out in 3 years, what's your plan B & C.5) Buy Sell agreements- If something happens to either of you (illness, incapacity, divorce, death) make sure there are provisions to buy out each others interest ahead of time.

My worker tells me that someone dressed as a telephone repair man knocked on the front door, when the tenant answered the front door, a swam of about 5 police exited an unmarked van parked just down the street, entered and searched the house.

Once rented and stablized you can then ride out the market and exit in 5 to 10 years back as condos.

But we will find something.What is the eventual exit strategy on this house you want to live in first?

If not, our exit strategy is to rent it... and it will cash flow just fine.Rentals are usually less demanding on time and finances.

You have no exit strategy, have you?

That is very low in my opinion and not realistic unless the units just need new carpet and paint and some mechanicals.If these units have been tore up as is customary for that level of vacancy you can almost double the expected capex to 3 million dollars for full rehabs once you factor the parking lot, windows, roof and other external costs not inside of the actual units.First you need to know the exit expected cap rate once stabilized and expected rents being conservative.

What will your exit strategy be? 

I am going to talk to Exit Realty and Douglas Realty was recommended by someone from thsi site.Here is a list of Benefits they offer.A few of our Features & Benefits:Full service brokerageCommission paid same day as settlementE&O only $180 per yearWe do NOT charge a separate client admin feeAbsolutely NO hidden feesNo franchise feesNo desk dutyAll listing leads go direct to the listing agentWe use technology to conduct all meetings, eduction, etc..No need to come to the officeWork remotely from anywhere in Maryland or DC Free contract forms (ZipForms) Does NOT require a specific association membershipFree business cardsFree online marketing for all listingsFull broker supportMentor program for new agentsFull service office with conference rooms, computers, fax, etc..Office Network - 8 professional meeting locations from DC to Ocean CityOpen a branch office without a brokers licenseThe freedom to run your own business

Around two weeks ago they decided to pull the pin on this and pretty much sent out letters to all exiting customers advising them that their account will be close by mid September.