I’m not sure anything’s besides just setting up a normal llc is worth it.If you want to get technical about it you can have an attorney set it up with a partnership or operating agreement.

My initial goals in real estate are simple: 1) learn as much as I possibly can 2) find and fund my first deal.

But living in Texas has showed me that MTM can allow for greater operational flexibility for the landlord and more freedom for the tenant. 

@Tim Ivory Her owning it free and clear makes it simple.

This structure first compensates either partner for skin in the game (kind of like you would otherwise need to pay for private money), then splits rest.On the legal structure, sounds like you'll want to set up an LLC, along with an operating agreement that specifies the different duties you each have, all the stuff you agreed on deal structure above.

I've owned an operated at rooming house in Cobbs Creek neighborhood since 2015.Mike

You will lose money one way or another on those appliances I can assure you so you need to have the tenant paying extra in the form of coin operated machines or increased rent

Current Zillow estimate is 78k and they still have 4 years left on the option (this one was our first one so we didn’t build in enough appreciation and we will only make around 12k each on it but it got us off to the races). https://www.zillow.com/homedetails/121-W-Harding-Ave-COOLIDGE-AZ-85128/8685741_zpid/So you can see that our model is pretty simple and is attractive to people who want to own a home but are not able to get a mortgage on one right now but they can lock in a price today, plant their roots, and work towards getting their credit repaired.

There is a high likelihood they are but a few simple risk reduction actions and you can check whether their sob story is real or not.

Simple solution is to invite them to your place and tell them to setup shop there and play until their hearts are content!