Without any form of credible references this person may care less about you and are only interested in the sale, which would be your problem after.

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

Many are personal friends of mine living just 40 minutes south here in San Diego. 

Investors want a person that they consider a good "business partner", but most of the wholesalers I see come of as borderline crimnals.

I’ve met most of my partners through in-person events because it’s easier to get a feel for someone’s personality and long-term vision.

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

Do you own a personal residence yet?

best of luck. make sure you are speaking to a knowledgeable person in your area as you might be getting false information

Without rent control i either raise their rent far above market rents so they give me notice (my preferred method) or i simply do not renew their lease.

This is the foundation of why LaPlante Real Estate is based in portfolio management and property management... my personal portfolio started in 2009 and I find the majority tends to be Section 8.