To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

Not an expert here but my Brother is a heavy equipment operator in Northern CA and did a lot of the fire clean up when those fires happened and he mentioned contractor might need hazard waste removal license..

When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.

I have some flexibility but rely heavily on my team for admin work and the day-to-day operations of property management.

And Sec8 sounds great, but comes with it's own issues.Add it all up you get a low dollar, but high headache strategy, which is a challenge that gets amplified, especially when you are operating remote.

They perhaps can build cheaper than you can, finance cheaper, operate cheaper and to get it leased up, offer things like 1-2-3 months free rent. 

You then take the cash-out and buy 1-3 more properties and get them operational.

Long-term leases are less operationally complex and face fewer regulatory risks - more stable and scalable option.

Talk to other clients, go look at his current job site and see how clean it is, the quality of work, if the order of operations is making sense so far, etc.PS I'm a GC in the Nashville area and can take on a handful of clients in 2025 if you need me.

These operators totally bungled the deal and operation but still made money due to the market.2.