Hi Kin,Three quick questions come to mind that would impact your situation.

I have the same questions. 

I think you already know the answer to that question lol  Have you been to NJ before? 

Hey Jonathan, Best way to learn is to go to every meet up you can and ask a tons of questions and listen to the stories of experiences investors to figure out which route you want to take in your journey.

When Padsplit presents them to me as a potential member I have several questions for them. 

Bonus 4: develop a list of questions you want to get answers to before you do any opportunity.

Feel free to reach out if you have any specific questions, as an investor or a lender happy to share any advice I can!

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

That said, an umbrella doesn't have anything to do with the original question of the thread. 

No one's perfect and honest mistakes happen and a PMC often needs guidance as to what level an owners wants to maintain their property.Wasn't trying to solicit your business,so I'll respond via DM about the rest of your questions:)