With housing prices skyrocketing, the increasing cost of raw components and lumber, and labor shortages, the idea of owning a piece of income property is just not in the cards anymore for many individuals.

Some pieces might need some minor work like upholstering or staining

This is the most important piece, we are slightly overbuilding it to increase square footage and to then increase valuation.

The other partner will be onsite management, set up and property identification.Any help or suggestions on how to structure the equity piece would be great.  

This will involve operating a piece of real estate and starting a business inside that piece of real estate.

Take action (you should NEVER feel perfectly ready or you've waited too long)My other piece of advice would be to put together your crystal clear criteria aka buy box! 

The puzzle pieces fall into place. 

The piece of furniture you see on the right is a Murphy bed cabinet (with an oddly super comfortable memory foam mattress).

I can offer a few recommendations: 1) get an inspection while under contract to make sure you don't miss anything and do thorough due diligence in general (I wrote a long piece a while back that might help: https://www.biggerpockets.com/blog/due-diligence-ultimate-gu...2) Read J.

BUT you can skip the income piece, as "qualifying" will be based on rents received, not your personal income.