Partnership with Tenant

[John Padget]

My 19 year old daughter wants to buy a property and try house hacking, either by long term roommates or Air BNB. She has been saving since she was a little kid has a down payment saved but, I doubt she would qualify for a mortgage with her income. My wife and I talked about buying a place and just renting it out to her but, I would like my daughter to have some skin in the game and learn a skill as well.

I have never owned a rental and would like to start learning. I have been thinking about carrying the mortgage for a property and form a partnership with her. I have been looking at partnership structures but, I haven't found anyone who has partnered with the actual tenant. 

At first, I would say we would take all profits and get her down payment back. I think typically there would be a 50-50 split after that but, with her being one of the tenants, what would be the best way to do the split? Would she just pay rent like a normal tenant but, just take that out of her rent? 

Has anyone structured a deal this way or have any advice on if this is a good idea or not?

Thanks