Structuring the Deal with a PartnerWhile your partner cannot directly participate in the loan, there are ways to structure your arrangement to reflect your 50/50 partnership:Option 1: Post-Purchase Equity SaleYou obtain the 203(k) loan in your name as the owner-occupant.After closing, you sell your partner 50% equity in the property via a quitclaim deed or similar legal instrument.Your partnership agreement would outline each person’s roles, responsibilities, and share of profits.Note: Be mindful of FHA’s rules around title changes and ensure this doesn’t violate loan terms.Option 2: Partnership Contribution AgreementYou both contribute to the down payment and renovation costs as outlined in a partnership agreement.Your partner’s contribution could be recognized as a share of the equity in exchange for funding, services, or property management.The partnership agreement would detail how profits, responsibilities, and equity are split.Option 3: Joint Venture AgreementStructure the deal as a joint venture, where you own the property personally (required for the FHA loan), but profits and roles are split per a formal agreement.Your partner could receive equity-like compensation through profit-sharing without being on the title.3.

Quote from @Dina Schmid: You can sell anything you want, but that doesn't mean it will qualify for a home loan or be accepted by a building inspector. 

If you do go to sell it and it appreciated say 8%, that is going to be eaten up by your closing costs...Personally I do not see this as a deal.

Quote from @Brian Cerezo: I’m in search of a roofer that can patch up my roof in my rental in Canton Ohio so I can get it ready to sell.

So selling it to someone when you can't give them clean and insurable title can sometimes be an issue.At that price point, not so much. 8k properties tend to have a buyer pool that won't care as much that the title isn't insurable if they see the reason why is because it was bought at a tax sale. 

Get your RE license and sell these on marketYou can also use the marketing skills you learn and direct it toward apartments or commercial real estate and jump into that asset class.

The way that I see it, when they sell it down the road, they will use me to list it.

Flat Fee buyer agency to reduce acquisition costs (get ~2% of the sales price back), and flat fee MLS listing to reduce selling costs to ~$500.

@Nick McCandless  I would recommend doing your own DD on anything turnkey investors says to you in terms of cash flow, type of properties they sell, and their turnkey model.

If this is a bad deal because of $1,500/yr in interest run away and have your family sell the property.