You would probably need to setup some kind of waterfall, like:Pay X% preferred return based on operational cash flows (guarantee return to make more attractive)Provide a split of profits on the sale of the propertyYour partner will probably want to share in the tax benefits (depreciation) and have no liability. 

Approach this in a calm, humble and friendly manner.Their records may show all of your on-time payments, all of your late payments, and how many times payments came back as NSF.

Role play keeping an angry homeowner calm?

I ran my numbers on the calculator and it has helped me stay calm throught this process because I'm making decision based off the numbers not feelings.

@Alex Franks- transplanted Long Islander also (Lynbrook)...hear ya loud and clear...sometimes I think I'd give up my left nut for a bag of White Castles...I'll try to calm the fix by hitting Krystal but just not the same.

Typically the female brings a calm and friendly vibe, while the male brings the strength and business tone to a meeting.

Any advice to calm my nerves?

I have fund that in my market the 2/3 or 3/2 SFR is the preferred market I actually met today with a local investor who helped me get inside on the local market and calm some of my beginner nerves.

If the unit is vacant, we often allow a few days free to facilitate a calm, instead of frenzied, move-in.

Luckily I have a great agent who is keeping the sellers calm as we finish funding.