I still need to do a deeper dive, but the ownership structure was one of the external factors that I was thinking about.  

I was thinking he supplies the down payment and acts as a silent partner.

I think investors see it the same way and invest that way too leading to bumps in prices if they start to see a trend.   

I think what you're really asking is how to identify good value areas where rents may be trending upward but the prices still remain relatively lower.An important metric is tenant household income to rent ratio.

As an investment property, I don't think your want is an option for you.

I think we will be seeing more and more of this.

Either I think they don't know what they're doing. 

No need to think twice about this one.

$10k and you are thinking of filing bankruptcy?

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?