You want to find a group that has goals that align with yours and pursuing the types of projects that you are interested in. Experience

Single family homes are more ideal for me ,but l find real estate fascinating and  would be more than open to trying other types of propeties as l grow in experience.

I have a GP and he is very knowledgeable, though void in experience. 

There may be times when inexperience or temptation may land you on the wrong side of landlord-tenant or property laws.

Again these are ideas, built on inexperience and a lack of knowledge...so please way in.I am the higher earner of the two and I'm currently paying down some debit and working on improving my credit.

How much are you budgeting to lose due to your inexperience?

It's great that you're bringing in experience from your family and have done your homework.The Maine property for short-term rental (STR) sounds like a fantastic opportunity, especially since you've done the math and it seems financially viable even with a property management company.

I know this has been asked, but I have a few important variables (management fee, inexperience)This is a buy and hold single family home(s) partnership.I have a partner who invest only cash, and I will do the work + invest cash.

However, due to my inexperience, he is requesting a down payment around 300k.

I would not be willing to pay a hard money lender considering my inexperience.