As long as both parties understand that they are both jointly and severally liable for the full rent they can pay how they want but my system still charges each tenant the full ACH fee and if any of the rent is late the entire late fee applies.

@Nick Cascio   thanks   1) if your friend is a strong  buyer -  going in jointly might be an option ...if you  are able to do this - meet with a real  estate attorney and get  everything  hammered out in wirting with the partnership  ( eg... 

Will the proceeds be deposited in a joint bank account?

I'd look at doing development deals as well. you can do joint venture, non recourse debt above 5 million in construction. we do deals in Columbus Ohio and miami florida if it is of any interest. columbus cost per door is much lower than in miami and we focus on micro units under 600 sq ft mostly for development to get higher density, higher lease prices per square foot, etc. there is a "affordable" housing deal that has 336 sq ft studios in columbus that gets about $995 in rent which is above $3. the normal single family rental gets in the $1.6 or so range even new construction 

You are likely looking at a Syndication or Joint Venture model.

Quote from @Alex U.: Could a long term lease could be written as a series of short term leases (less than 30 days), and thus qualify income from the rental as "Active" and thus allow the tax filer to file as a "real estate professional"?

Hello Biggerpockets Community, I'm currently considering a unique opportunity to go 50/50 on a property with a friend, and I'd love to hear your thoughts and experiences on this matter.Background:My friend and I are contemplating joint ownership of a property where they will live and cover the mortgage, while her and I contribute 10% down payment.

I appreciate u responding.

One more thing to show how ignorant most plumbers are (and I am a plumber), the discharge (pump side) of your system is ABS (plastic) and most plumbers are too ignorant to realize that ABS (plastic) pipes and joints are not designed for high-pressure water.

@Ayyoub Reza- thanks -  depending on how you file your taxes - you might ask this  question to a CPA ...if you file jointly - I would recommend  you  be the buyer of the  next rental .....this would posisbly allwo you to  avoid needing the document the  rental property