Besides the  depreciation,  tax  benefits that I would get if  I was renting to him are there there any advantages on co-owning instead of  me renting to him?

I own a property in the Disney market and co-host/manage another 25 in the area.Disney I think is a good market if your goals are more aligned with traditional long term real estate goals, and a bad market if your goals are more immediate gratification and short term cash flow.The major benefit of the Disney market is that it's about the safest market you can find from a long-term perspective. 

So I don't see any benefit to holding on to it longer when you're that negative on cash flow. 

The true benefits of real estate investing are realized when you hold.

I’m also open to any advice or help that may benefit someone like me who’s totally new to real estate or better yet new to investing and creating a portfolio all together.

Each role has its own challenges and benefits.

In short - here are the reasons I pivoted to Real Estate Investing:All the benefits of Real Estate + growing STR optionsInflation raging at 10%/moCurrency wars and what or who will win them (Prec Metl or CDBC, etc.)Equities markets receive derivative pressures from credit markets and pressures on US dollarRealistic 10+ year opportunity in using Creative Financing, given monetary policies.Global disruption and impact analysis of COVID to businesses (small/large) and individualsWhat I was (originally) looking to get out of the program:Better understanding of Real Estate and it’s MarketLocally like-minded ppl that are more about collaboration than cannibalization (not reflective of BP in any way – this community is great too)Improvement in comfort level working in REI and learning “on the job”A community where I could find deals, connect with ppl for help and ask questions, etc.Business and Corporate Structure recommendations to accommodate short-term & long-term investment strategiesAnonymity strategiesAccess to vetted contracts for traditional, creative and gator (EMD) Real Estate dealsMy experience and feedback based on my expectations:Great original 6 week mentorship program.

Plus it would have to be a banger of a property for me to have that kind of confidence in it going the distance through all the market cycles, regulation changes, OTA market shifts etc at which point I may as well buy it.Which circles back to my original point- if I am not owning and benefiting from the appreciation, why should I absorb so much risk and upfront capital if instead I can find an underperforming property with potential, take a guaranteed return off the top and invest almost no money on my side? 

The power of REI in todays market is delayed gratification  combines with the tax benefits the following year. 

It will familiarize you with the basic terminology and benefits.