Each to your % ownership.. then one of you can do collections and pay the other ..

Not that this helps now but we collect 1st & last months rent up front plus a security deposit.

Start collecting nuggets.   

He'll pocket like 10k and now have a mortgage of like 3k/month or so and collect 4700 each month. 

An ADU is an Accessory Dwelling Unit -- specifically, a garage or other structure converted into a living space like a studio apartment.Houses can have one ADU and small multifamily property can have two ADUs (and more under certain circumstances).Here's an example deal, one I was exploring with a client recently:https://www.redfin.com/CA/Los-Angeles/624-N-Evergreen-Ave-90...This fourplex has two large garages, each of which can be converted into a studio apartment collecting $1600/month in rent (with plenty of off-street parking still available for tenants).

Some landlords have a master tenant who collects rent from the other tenants but that's not the best way to set it up - I think it could potentially open up the tenant trying to seek legal action against the investor and say that they're under rent control protection with any rent increase. 

You'll want to make sure you have every contactor fills out a W-9 collecting their name, address and tax id. 

Over the long run that approach I believe will lead to less rent collected overall.

There was an agent who assumed the role of property manager, handling rent collection, but failed to pass the payments onto the owner.

I haven't bought since 2015 just living in retirement collecting rent.