I'd like to understand @Devin James, from the domestic developer mind of things; If there stands a confusion, lack of comprehension on how to address housing compilation in a given region, city, MSA etc., why not look to Europe? 

(Yes it still happens, but it is a lease violation, and we have a solid leg to stand on should we need to pursue eviction or collections later.)

It’s important to ensure you’re comfortable with these risks and consult a financial advisor.If you choose to use a HELOC, consider traditional financing or private loans as alternatives if you prefer not to risk your home.As for your first rental, markets in the Midwest and Southeast offer great opportunities with turnkey properties that are tenant-ready and appreciating.

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.

A financial calculator and legal pad might work in the hands of someone who knows what they are doing, but that doesn't mean it's the best way to do it.

The key is understanding your risk tolerance, time commitment, and financial goals to find the right balance.

They love the idea of wealth, financial freedom, but don't want to put their own financials on the line.

Assuming the financials make sense to do this of course.  

Encore, you would need a membership, if you purchase in the new phase (Spectrum ) they automatically come with the amenities (membership) included to your guests, but the HOA and management have other restrictions and all units come furnished with the same packages, so you can't make changes to have it stand out, which is what is really needed hear in Orlando since there is so much competition. 

Once pre-approved, gather your financial documents like pay stubs, tax returns, and bank statements.