How should I structure my first partnership?

[Taylor Weaver]

I have a person willing to partner with me on a small multifamily (3-4) units. This person would provide the down payment and closing costs. I would house hack / manage the unit. How would I structure a deal to benefit my partner?

[Aaron K.]

I don't think you can, any way you slice it the partner would be better off on their own.  They are basically paying your rent plus property management, no PM services are worth the rent on one of the units on a 3-4 unit (25-33%).  If you want to live there you should put something down and get some equity in the property.