So, if you stipulate that by a "housing crash" you mean a 15%+ decrease in median home prices between any two months within a 12 month period, then yes, the Austin market has "crashed" by that very specific definition.However, I'm not sure of the reasoning behind defining a real estate market crash in that very specific fashion.

I would look to fairly compensate your partner in some fashion for the additional equity by giving them a faster payout.

The IRA owns the real estate and receives the income in a tax-sheltered fashion, just like your 401(k) does today. 

Yes, they’ve had a free ride but are mostly maintaining the asset.

They'll ride by and scope it out.

He has had an easy ride for 6 years, time for him to hit reality.

If I was getting a good return from a hassle free older tenant on a stable fixed income who would likely stay until they were no longer able to live on their own or pass away, I would probably ride that horse into the ground!

Some people may want to charge a consulting fee or ask that you work for them in some fashion in exchange for the mentorship.

Trying to bring my husband along for the real estate ride put added pressure to get a home run deal in a very different market from when I started investing.

The person that broke in gets to take a ride in the back seat of a black and white limo.