Great guy and excellent operator with great results.

I then want to have a virtual meeting with the GP who will actually be overseeing the daily operations.One of the projects is already stabilized and the GP is looking to sell; should have a significant amount of capital returned. 

Other syndiicators are not good operators. 

They may seem attractive on a spreadsheet if you are chasing cash flow, but the fundamentals are not as strong and these properties are  disproportionately impacted by capex and operating costs.

I will be managing all booking, renovation, and maintenance operations of the STR (besides mandatory front desk operations, and cleaning - required to be run by the Hotel).

My spouse and I didn’t learn our lesson here and took on a second partner in a real estate/restaurant operation and ended up again having to have legal action to sever the partnership when it failed.

It could work, but a long ways from the virtual certainty you should desire if investing your mom’s money.  

Analyze deals like a pro using the 1% rule and understand operating expenses before making an offer.

In the middle of buying out partner (50:50 partnership) in a mixed-use owner operated Gas station and real estate property.

I’d reccomend figuring out value of your time and then thinking about much time it’ll take you from an operations perspective and divy out % that way.