How to structure buy and hold deals with outside money?

[Taylor Robertson]

I understand how raising $ via hard money/private $ is paid back on flips through the profits made. However, I am wanting be to a buy and hold investor. For example, I have a potential deal coming up for a SFH. Regarding the down payment and rehab costs (~30k), if I were to look for outside money to fund the costs, how could I structure the deal? I have a family member who's interested in partnering, but if the property cashflows a couple hundred dollars per month and we split it, the ROI in very poor for my family member. I know that equity is another option, but since I plan on holding long term, a profit via sale would not happen for many years. I'm just not seeing how to effectively scale using outside % from a buy and hold perspective. Any suggestions would be greatly appreciated. Thanks!