If you are risk adverse real estate, (especially out of state) is not for you.

There are A FEW lenders will use the new owner's payments (given a certain history of payments) to off-set the debt so that it doesn't have an adverse affect on the DTI of the original owner. 

If you are risk adverse real estate, (especially out of state) is not for you.

Installment accounts such as your student loans and mortgage do not lower your score or adversely affect it unless you have been late or it’s in a derogatory status.

They don't want to hear any of the bad stuff and they can't hold up to adversity.

(you need to think whats fair to both guys and you don't want to give everything away either).Now for your % of sales profits, the sales price is directly related to:market conditions (uncontrollable) = RISK,Property management results (controllable by the property manager) = RISK to you because YOU are not the manager.It seems logical (to me) without any other information though, that 50% / 50% would be fair here.As far as LLC control regarding decisions 50% / 50% with some method to break a tie vote if that ever happened.There are a lot of other things that come into play in this, and it's best to have an attorney draft up your agreement and walk you through all of the decisions that need to made on this.That's just a quick off the cuff discussion, an illustration of what could be possible, (you really need to figure this out for yourself, and with an attorney, because this is BIG MONEY over time, and also talk to your CPA because the decisions you make could have adverse tax consequences for both of you if your not careful).Good Luck!

If you are risk adverse real estate, (especially out of state) is not for you.

@Michael PlaksAs you and your landlord have adverse economic interests, I doubt he'd let you out of half of your floor space without you offering consideration. 

If you are risk adverse real estate, (especially out of state) is not for you.

But your story of how you over can adversity let me know I can do the same.