I have been reading Brandon Turner's "The Book on Rental Property Investing" and have learned a lot but wanted to get on here and ask for advice from everyone.  

That sounds like a perfect fit for you

If they are the one providing most of the cash, they might not want to carry that liability, but you've already negotiated with your partners on this and then the bank isn't cool with it, you could be in a pickle.Thanks for the advice !

Readers should seek professional advice.

One of the very few times I heard a financial advisor provide good advice.

My piece of advice would be to make sure you have a great agent in your corner to help you assess the market, make informed decisions, etc. having a good agent can be day & nights difference when it comes to your experience.

I want to first say thanks to everyone who responded with great advice and mentorship.

This doesn't replace the need for a MSA that will capture additional clauses needed on a Contractor-SubContractor relationship, this is just a project specific form you would use in addition to the MSA (prepared by your Attorney):This template is for informational purposes only and does not constitute legal advice.

Does that sound right?

It sounds like you’re bringing a wealth of experience from the commercial real estate world, which will undoubtedly serve you well as you expand your residential portfolio.