.: they added cost to board up fireplace but the house doesn't have one)- Make sure to verify if all the work is complete as agreed.

However, the IRS may scrutinize exchanges if the holding period post-transfer is too short (typically 12-24 months recommended).If one partner wants to defer capital gains while the other prefers cash, the deferring partner could reinvest their share into a Qualified Opportunity Zone (QOZ) fund, which can defer and reduce taxable gains if held for at least 10 years.

Looks like if it defaults they have no skin in the game as they are acting more as a broker.

Does that qualify for a home office tax exemption?

Also, the term "house hacking" is generally used for your owner occupied home (renting out rooms in your primary home) and that income cannot be used to help you qualify (it is considered boarder income). 

In my mind the partner who contributes and shares across the board will have a greater alignment of interests but curious how others have approached similar scenarios and views on the subject.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Hi Ashley, We have found what works well for us, as well as our clients is to ask them during the on boarding process if they have any preferred contractors.  

Quote from @Tiarnan Gormley: How will you qualify for loans?

At least 2 US credit scores required to qualify.