I was thinking he supplies the down payment and acts as a silent partner.

@Jaycee Greene I wouldn't have the funds for the down payment. 

Use your $30k for down payment or initial rehab but budget extra for unexpected repairs.Your lead methods (D4D, DealMachine) are strong.

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

In theory, since we don't have a prepayment penalty, you could borrow the money, complete the rehab and pay off your loan before your first payment was due.

Wealth-drivers are appreciation, debt pay-down (ie. principal payments) and tax shielding.

The terms remain the same, we still pay the monthly mortgage payment.

This will still qualify for a residential mortgage and you have a better shot of completely offsetting your entire payment.

I texted her the rent amount on Tuesday afternoon (per her request) & the various ways to pay it - she said she would "get with me on the payment". 

Even if their Renters Insurance company wanted your insurance info, an insurance represetnative would be contacting you for it.7) You haven't stated if the tenant is current on their rent or withhold rent payments?