I know people are making money this way but dealing with 4-6 tenants in one property with the time involved, refereeing and legal implications make it a non-start for me actually on either side of the coin.

If you can find a referee then perfect.

Inventory is acting as the referee—and while it surged earlier, the recent downward trend suggests leverage is no longer one-sided.

MOST OF ALL who is the referee ?   

When the referees can’t agree on the rules, you don’t play the guessing game — you focus on fundamentals.• Rent markets across the country are soft.A massive wave of multifamily completions finally hit.

Even 3–4 people a day coming by can tick off the neighbor/other tenant and suddenly you’re in referee mode.4.

We can only represent one side here or we can be a “transaction broker” representing neither side, like a referee. 

You are not a referee Tenants should police themselves and have conversations with each other in an attempt to live in harmony.

Options include buy-sell (shotgun), third-party referee, or a forced-sale mechanism after a defined period.Transfers & ROFR: Limit assignments; give the other TIC a right of first refusal so an unknown third party doesn’t suddenly become your partner.No-Partition Covenant: TIC owners have a statutory right to partition unless they waive it—waive it.

Just when a handful of users started tagging you directly to help referee disputes and now you’re moving on…Well, life moves move on.🥲 Best regards in your new adventure.