“it is VERY hard to screw up when buying i.e. a duplex in good condition in a desirable neighborhood and either self-manages or hire a quality PM to manage.”excellent point 

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

Quote from @Christina Hall: Sorry I only read a fraction of what you just posted … bc damn … lots of unnecessary commentary But I do understand Search volume managing hundreds of thousands of dollars per year in google ad spend and seo for major organizations If the volume isn’t high enough than you aren’t going to get meaningful traffic to drive conversionsIf there are 20 people searching per month and 10 convert and they are qualified and that’s all you need then great But the fact that you are screenshotting hundreds of form submissions is suspect and misleading to those who don’t understand hence the reason why I’d love too see your GA Good luck out there Humor me for a second.You come to the forums asking for help on lead generation because obviously, you are not very good at it, hence asking for help.

Thus easy to manage and low Capex expenditures.     10.  

Taking small, manageable steps now will help you make informed decisions when you're ready to invest.Good luck!

In real estate, I don't change locks, screen tenants, evict tenants, inspect properties, or finance my deals - I have property management, property inspectors, and mortgage lenders that do this for me (outsourcing).

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

Unless you need those funds right now, with a property manager you have what I describe as a win win.

Find a good property manager that you can bend their ear. 

The only other options I can see are A) your mom partnering with you rather then selling the property to you - you become 50% owner and bring the funds and management to the rental while she provides the existing equity as her contribution; or B) your mom lending you the rehab cash out of her personal funds while also seller financing the house to you.