You want to really learn what an area is like, how much rents cost and receive knowledge then strap on some shoes and get to walking and talking.

(Primarily because I don't have anyone who likes me enough to gift an entire down payment) If I were in your shoes, I would most likely elect to sell the condo I was in and use the proceeds from the sale to purchase a multi-family property, live in one unit, and rent out the others.  

I'm not looking to go on lavish vacations, buy cars or have name brand shoes. 

I will get your coffee, shine your shoes or quite frankly wipe your bottom.

A little counter to what others are advising, but I'm not sure I'd jump into REI in shoes like yours.  

So my question to all of you is...how would you structure this deal to protect yourself if you were in my friend's shoes (the buyer)?

I hired him because it was a steep pitched roof and I am too old to spend much time,,,and what little time I did couldnt even keep my shoes on my feet.My favorite saying is,,,if you cant do it yourself does it really need doing?? 

When the detective came, I wanted him and the other investors to know I was innocent and never even considered how it could be twisted.How would you have responded in my shoes?

Well, you need to know that putting the shoes on of a lender is not buying the property.

Don't think only of your own, put yourself in their shoes, feel how they would feel.