Jamil and Kevin purchase a residential property as an investment for $50,000. Each contributes $10,000 in cash and together they mortgage the property for $30,000 to raise the remainder of the purchase price. A few weeks later, Kevin decides to end the partnership and Jamil buys his interest in the property for $10,000. Advise Kevin.

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The Answer of Jamil and Kevin purchase a residential property as an investment for $50,000. Each contributes $10,000 in cash and together they mortgage the property for $30,000 to raise the remainder of the purchase price. A few weeks later, Kevin decides to end the partnership and Jamil buys his interest in the property for $10,000. Advise Kevin.

Jamil and Kevin Purchase a Residential Property as an Investment