Seeking help with Partnership structure

[Doug Meeuwsen]

I have a potential partnership opportunity with my in-laws and I am seeking ideas and advice on how to proceed with the partnership structure.

Market: North County San Diego.

I am looking to pick up a single family house that my in-laws would move into and “rent back” from my wife and I. . North Country has a large barrier of entry financially and as a result my in laws are willing to help initially with the down payment with the understanding that my wife and I would have plans and ability to pay back. My wife and I would be responsible for all maintenance and cap Ex.

Question: how should we proceed and under what partnership structure would be ideal to get a no money down deal where the main goal would be to not make cash flow off the tenants?

Thanks in advance for any help.

Doug Meeuwsen