That may be true, but don't make those decisions before sitting down with her as a family and showing her all of the properties, what they make, what their liabilities are, what their values are, and where they are.

I've seen new build developments where 10+ units are for rent all at similar prices and sit for months.

You should first sit down and go over your expectations for the partnership and the roles and time allotted for those.The purchase and management is pretty easy - he handles the purchase and you handle the management.

I have been sitting for months now and stuck to alaysis paralysis in getting a small rental to start.

The only reason for a property to sit that long is price.

Do we need the money to live or does it sit their to reinvest? 

Would like decent occupancy, around 50%+, not too seasonal where it just sits empty half the year also.

We will lose out on $100k but get our cash out and the new investor will clear $100k by sitting on a deal for a year (while collecting rents).Does this seem feasible or something that would be attractive to an investor?

I'd recommend sitting down daily and writing down every single action steps that will help you get closer to your goal and mark each one off as you go.

Most people that I know just sit on it for decades, while paying property taxes.