In a way, if done right risk allocation / apportioning should be close to a zero sum game .  

Commissions resources and their investigators work on a very limited budget and only want to allocate time to the most serious cases.It's kind of like with police in that if you call saying the neighbors dog's is barking too much versus them getting a robbery call they could care less about the dog call.Sellers use brokers and agents to weed through buyers to find the ones the seller is searching for.

One way around this situation may be to create a condominium in which each SFR is its own unit and the ownership of the land is in common, but you can still allocate limited use common areas to each unit.

Plan to hire the work done, get bids for work I don't know what it will actually cost and allocate the funds to pay someone to do the work.Learn from my mistakes fellow BPers.

And you can allocate your proceeds anyway you want. 

So what I recommend is taking a look at how much risk you are willing to take and then figuring out how much you want to allocate to real estate.

For those of you who invest in paper assets (along with real estate), how do you calculate your rental properties into your overall asset allocation? 

I've already found a few boiler-plate contracts for investment partnerships that divide up the value of a property based on the initial investment of each party, but we both agree that we should add some language to address how equity from the renovations will be allocated, as I will be doing most of the carpentry and project management myself.I'm curious if anyone here has experience or suggestions of what equitable terms could look like in this scenario. 

1) Get a website.2) Allocate 1000 dollars to SEO, (and I do not mean hiring a SEO company)3) If you REALLY have to, buy cody sperber clever investor pancake or the one from Sean Terry4) Go through all the Investor Carrot tutorials (even if you do not get an Investor Carrot website)5) Spend up to 800 dollars on legal issues, (contracts, LLC, blah blah blah6) Spend 1000 on a list and 2000 on mailers.7) Pray to a God called MSOOTKAUG someone will call you.

Being able to allocate more capital with lower risk can help strengthen your portfolio, you don’t have to worry about paying off loans if the deal goes sideways, which is a comfort for many.I think if you invest smart and wait for solid deals to come, then I see no reason why passively investing won't make you wealthy.