@Richard SimmsRIchard, there are some options to get equivalent of "equity loans" in Australia, just a little harder to find. 

Here the max you can take for a security deposit from someone under 62 is the equivalent of two months rent and for tenants over 62 the max you can take is the equivalent to one months rent.Check your local laws.

A semi-rural small studio here just went for $820/month & I can't believe what some 3rd world equivalent apartments are renting for.Homes around us are selling quickly & junk foreclosed homes that we have been through are going for above asking ??? 

This is equivalent to one months rent. 

It's the equivalent of walking into a used car lot and having the salesman say "that car over there is perfect for you, but you have to buy it before you get to see it."

Also - what is the equivalent of Yelp for RE attorneys?

Owning real estate is the Bay Area Retirement Plan equivalent (or better) of 401k's, savings, etc. 

Insane.However, given that this is a good friend I'm assuming you want a fair deal, and not something your partner is going to look back at closer in 5 years and wonder why you took advantage of them, even if that certainly was not your intent.I am not a financial advisor, and have basically no experience structuring these deals, but if it were me I would just make the split equivalent to the amount of capital being brought by each side, and you taking a cut of property management the same way a normal PM would.So if they bring 60% of the capital the ownership split is 60/40. 

As he said, propstream combined with realtor com is a pretty decent equivalent without using MLS.

@Mauricio QuintanaAIRDNA is a good entry level platform.. about the equivalent of Zillow for Short term rentals