When he had to take a step back for health issues from what I understand the company seemed to go a bit sideways. 

Any tips or advise would be great!

Make sure you talk to a Banker or Loan officer that is well versed in both SE (Self Employed) income and also Non/QM programs.One tip I will give you as a Banker is open up a "Business Checking account" and for the next 12 months pay "Everything" out of that account. 

Welcome to the community and be ready for a huge amount of information at your finger tips.

She would be putting all the cash down for the property and I'm a contractor and would take care of all of the rehab work along with finding the house, dealing with real estate agent etc. how can we make it so that it would be 50-50 ownership of the property and all future profit? 

You also mentioned you started pretty young, I am 18 and just purchased my first college rental, any tips? 

It'd be nice if I could receive help or tips from anyone (new or experienced).

A tip would be knowing The number of doors you qualify for from a lender, And then looking at financial statements from places a little smaller and a little bigger.

@Tomas FalconWelcome to the community and be ready for a huge amount of information at your finger tips.

If the tenants don't care for the pool properly, it could cost you thousands to fix.