I started operating the property in mid-2023.

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.

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

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

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.

Lee runs a first class operation.

We'll go check out the operations. 

There are more passive ways to invest in real estate than "turn-key" real estate and achieve those types of returns, but you will need vet the operators and get educated before jumping in.

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. 

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.