My cousin that I have been trying to get on BP has an interesting situation.

In this situation, is it better to get a property through regular means, look what is on the market (through realestate agent), or maybe go through a sheriff sale?

But those folks were in way worse situations than you are..  

I would recommend consulting with your CPA/a CPA to look at the benefits of a cost seg for your specific situation.

What does the partnership split usually look like in these situations? 

I’d love to hear your thoughts, advice, or any experiences you’ve had with similar situations.

But MAYBE 5-10 people on BP are in a situation anywhere near yours.

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

The more rentals you have the more risk there is to having a bad situation crop up.

The success of this situation would be the financing.