Quote from @Elizabeth King: I have a property in my personal name that I plan to rent annually. 

The biggest mistake I see out of state investors make is relying on others too much for direction and guidance instead of doing their own due diligence and building their own team that they actually meet and interviewRelying on one person who alleges that they have a 'team' built already that you can use as well can be a costly mistake.

Personally, I wouldn’t invest in a market where appreciation averages only 2%.

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

You could do something like what you want if it was your personal primary residence and even then the interest rate would be ugly. 

I know Walter personally.. he knows a lot about real estate from many angels..

Many are personal friends of mine living just 40 minutes south here in San Diego. 

For those with using Buildium for property management software, do you use Buildium's public site or do you use a website you have made and maintain?I'm currently using a website that I created 4 years ago, posting va...

Any insights, advice, or personal experiences would be greatly appreciated!

I also think most markets won't see anywhere close 6% cap rates (for single family homes which is what I personally invest in).The questions you get to ask are then:Is the extra 4% worth the hassle of management and lack of liquidity.