Like a rich uncle or friend of the family doctor/lawyer?

So for example, let's say a friend of mine wants to get involved in real estate but doesn't have the time, knowledge, experience, or resources to do it very well.

When the housing market became seller friendly, I unloaded 5/6 of our long term rental units, paid off our house with that and invested in stocks and mutual funds…completely no fun, right??

It is very user-friendly for you as the landlord, and my tenants have had no problems using it as well.

A 50/50 split, while not uncommon in the world of flipping, is very sponsor friendly, relative to the typical syndication which will typically start at 80/20 or 70/30 splits, with a vast majority of proceeds going to the LPs, along with a preferred return that gives them 100% of the cash flow up to a certain annualized return metric.  

Quote from @Ajit Singh: Hi BP Friends, My name is Ajit. 

Every Week I scan the MLS, navigating cities and towns in South Florida that are friendly (and not friendly) toward short term rentals.

I have a few good friends that would use me if I can service their HM needs.

He was traveling and my friend went with me to the showing as a 2nd pair of eyes on it. 

Choosing an STR-friendly area can save you significant hassle and protect your investment in the long run.