Structure 2-4 unit, residential deal with out-of-state partner(s)

[Kaiden Foster]

Any tips on structuring 2-4 unit, residential, buy-and-hold/BRRRR deals with out-of-state, silent partners who are close friends/family?

I'm thinking about structuring a deal where I handle day-to-day renovations and landlord responsibilities but use cash from partners for a portion (or all) of the downpayment.

Still in the exploration phase and would love to hear from folks who have done this. If you're not a fan of the idea, let me know the pros and cons.

Thanks!