So, I say that $50k is a good start. If you have the $8k - $10k in
annual expenses also figured into the budget, you may make it work.
Good Luck,
Mike

Mike I couldn't agree more. However isn't that why you and your
partner
would sit down and make a budget and agree to both, an hourly rate and
a monthly rate to be paid into an account that would need both
signatures
to write a check to pay these expenses? I don't belive the OP is going
into
this blindly ( or maybe they are), but at least they have realistic
numbers
to start with rather than asking what the best plane $15000 could buy.
Going on how your post reads, these two should buy something like a
piper 140 at $35000 and have a reserve of $15000 for repairs. Can't
disagree
with that either. In fact that is just the advice they are looking
for. But
if it where you, what would you buy?
Lou