But we settled on an arrangement that we both were comfortable with: he bought a 2BR, 2BA condo for cash, and I paid him rent that gave him a 4% annual return over PITI—and I agreed to pay all maintenance and repair costs that came up.

As for coordinating it if the property is occupied by tenants, it’s just something you have to arrange.

@Chad Clement What was your initial arrangement when you signed on with them?

My question is how to best structure this type of arrangement.

If you'd like a better arrangement, let's grab a Big O and chat sometime. 

OTOH, rent for me is late after the fourth, and if we didn't have an arrangement prior to then I would have posted a pay or quit on the 5th (Sunday.) 

if that fails, arrange to stay with a friend for a couple of days with your belongings in a YouHaul.

If that sounds good I’ll arrange it and create a BP event.  

Could I ask how involved was your process of investing, how much did the RE agents help in all the process (finding properties, negotiating price, arranging inspection, paperwork, legal, etc) or was it mostly work you did on your own?

@Ian Ray - I'm not sure of the agreement/arrangement you have with the broker, but might you be able to try to wholesale one or two of the properties to then have capital for the third?