If you decide to take the partnership from a trial, to an ongoing long-term partnership, then get the attorneys involved and create an ironclad, partnership. 

It's now converted into a cash-flow positive long-term rental.

I have had a long term interest in purchasing an investment property and I'm looking to be smarter about this.

If you just want consistent distributions over the long-haul, you may want a more stable deal with a longer horizon, even though that may mean giving up the 20% return possibility.

But yes long term I am interested in buy and hold single and multifamily. 

So if, for whatever reason, laws change and you can't rent it out on Airbnb, etc, it still cash flows if you need to rent it out to a traditional long-term tenant. 

Play the long game and hold onto that equity. 

It is important that you keep the investment for a medium to long term.

How long ago did you start? 

If you're worried about finding tenants, focus on a location with strong rental demand, list rooms on platforms like Facebook Marketplace or Furnished Finder, and consider mid-term or short-term rentals if long-term tenants are hard to find.Good luck!