Partnership Creative deal structuring

[Michael Swope]

Bought a 3 bed 2 baths 1400 sq home in Enterprise AL for 97k and ARV should be roughly in the 130-140 range. I will be looking to sell within a month or two but slightly open to renting (1,100 monthly, the mortgage is 620) the home out due to me relocating across the country. I've had horrid luck trying to find contractors in the area and from the research that I've gathered the management companies are subpar if that. This gives me more want to sell vs rent. However, I am entertaining a partnership with a member that has low funds (2,000) but a stable income. I would like to structure a deal so that the member will take over ownership over time, generate passive income for myself, and/or take off most if not all the financial burden, and delegate the management of the property to them. Does anyone have any partnerships that have anything close to this structuring methodology?