You need to then write down your expectations clearly spelling out in detail what each other's roles are and profits, etc and then bring that to an attorney to have it drafted

I will admit that we had luck play a role as well.

It is 2017, and nobody even thinks gender roles. 

However I am incredibly driven and I have the time that he lacks to acquire and manage these properties if need be.Now regardless of whether we are friends I am going to assume a contract will be the best way to go to maintain our roles and be held accountable for our part in the business.

There is of course regionalism to mortgage rates, and your personal situation plays a large role in it...but the difference in the jumbo loan rate and the conforming rate is only 1/8th of a point difference in my area right now.  

Basically they have to pay down everything else before they get to their $10 parking space rent, as long as the renting parking space is not paid we can tow or boot any car in the spot.Levi:Though I have posted above about renting parking as a separate (commercial) engagement from the renting of accommodations - zoning will likely play a role in the practicality of implementing such an approach.  

Anyway 2 separate organizers assumed the organizer roles.

I'm hoping 100 a month or less, but the deal doesn't pivot on that...I'll give Cleveland water a call tomorrow, thank you for the good info Gwen! 

My suggestion is that you need to know the business of being a landlord, before you outsource the most important role, screening for tenants to someone who has NO interest in putting top tenants into your place.  

@Joe Funari I understand that trust plays a huge role in an investor-agent relationship.