And always check social media for red flags and I agree with Vince, always meet a person.  

With a loan, a person takes on a Debt Obligation. 

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.The downside of using FHA or a FHA 203k is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

Sounds like it makes sense for you to partner, I would suggest: spell out responsibilities very clearly, how you make decisions and most importantly: have a very clearly spelled out exit. 

While some strategies may work here, those strategies might not suit you.I don't personally do MTR, STR, co-living, or other nuanced strategies.

Personal guarantees are EXTREMELY common.

He's efficient and personable and is very able to assist you with questions if needed.Hope to discuss this with you further,

Quote from @Melissa Odom: @Ronald RohdeThank you for your response. 

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

They want someone who is physically local that can be responsible for issues that come up.If you are required to hire a property manager anyways, might as well just pay them to do the tenant placement.