Can be structured in a way that you retain maximum flexibility in ability to refinance, sell notes, or utilize as colterol for future endeavors etc etc.. 

If we find anything, no cashflow and only thing I'm banking on is home appreciation in future.

The TLDR is that if you can take the money you would have otherwise put in the property and invest it somewhere with higher returns then you could be better off doing it that way even if it means smaller or no monthly cashflow because money in your hand now is more valuable than the same money in the future.

Hello all, I have never invested with a partner before but looking at possibly doing it in the near future.

You have to remember why you are doing this and that is to better your future. 

Will this prevent me from saving for the down payment for the future house?

It’s your choice of how you want to structure your investing future.

I've had title companies miss a lien, insurance took care of it, but as Eric mentioned opportunity lost.Chris, Tom, Peter; Advice for future?

Do I have them put down the same amount or decreased amount since it is so far in the future?

I really hope they figure out a way to extend this in the future because it’s a huge benefit for real estate investors like us.