That is a great benefit of that arrangement, but you didn't mention that the downside is assymetrically shared by the property owner.

This gives you the benefits of ownership without the hassles of “landlording” or playing general contractor—in my opinion, it’s a more feasible arrangement if you’re looking to live in one state and own in another.The initial outlay can be pretty reasonable as well.

I'll be looking into other arrangements.

What is your arrangement with your service provider

BUT, in finance, in mortgage brokerage arrangements, "investor" means your own money, not your uncle's money, not your buddies money, not borrowed money, your money.

Check your buyer rep agreement for how that's arranged. 

If you want to see it pre rehab, we may be able to arrange something for Dec 1 (it is in Pt Loma near OB).I get a lot of off market property listings sent to me.  

You may even want to arrange it in such a way that it's a JV between you and that investor2.

@Ben Dao,The way around that is to arrange to have your paycheck direct deposited into your line of credit.

To safeguard against being pushed out, include provisions for mediation in case of disputes and consider filing a lien or using escrow arrangements to secure your share of profits.