With business entities and careful allocation of assets to that those entities, he will likely get whatever assets happened to be in that one business entity that owned that one property.Just one example, but I'm sure I could think of hundreds more...

If I am off base, please feel free to correct what I am saying.By the way, I am faced with a similar question as Hans - how do I best allocate the funds that I have.

In short, it pulls your transactions from your bank account, then you can add receipts and allocate by property.

Pay up for the right kinds of permits, from which funds are allocated to improving roads, schools, homeless situation, etc. 

Given the facts as presented; a novice REI with no capital, no prior MFH involvement, and no track record of managing money for others (previous partnerships, series 7, 65, 66 ect, PE experience), who wants to start in MF RE with no money down and may do that with a HNW family member, I don't think its unreasonable to assume that they would share in, at a minimum, the major capital asset allocation decisions. 

In the near future, the leverage will be much lower and therefore the negative impact of possible rate increase is minimized.As for a stock trader, I think it is prudent to allocate 1/3 of his capital in real estate, and the remaining 2/3 in stock trading.For me, deflation is more dangerous than inflation.

I offered her a solution to have her paycheck allocate half the rent for each paycheck from her company (she gets paid twice a month) and she believed this was easier for her as she didn't have to worry about the rent anymore and I have never had rent late since then.

All of this makes the local lender more likely to be willing to deal with you as an inexperienced person, and to offer you better rates.And by all means, network like crazy at your local REIA.I concur that your range of 50-70% of purchase/rehab is a good place to start if you can allocate that amount.

Bill - if you have a lot of retirement funds and you are wanting to allocate some to RE... that is good... but if you only have 100,000 invested for retirement you might want to invest it in stocks and use non-retirement funds for RE investing.

Both can get their way if user adjustable preferences can be allocated to do this.