It was a win win for both parties.

Since you had to ask your question, you are not ready or qualified to invest other people's money and before you do you need to have a conscience and be aware that you are putting other people's money at a high risk if you don't have what it takes to find the right property, have the ability to manage tenants, have the ability to do the math, keep the property in good condition, have a good handle on how to do clean recordkeeping, how do accurate bookkeeping, send your investors reports, how the taxes work for every party, how to deal with contractors and maintenance, how to evict tenants and get new tenants quickly and the list is much longer.

They feel that if they hand over their prized asset to a third party, the other people will not be able to run it as efficiently as they do themselves.You must realize that when you are a landlord, you are in the tenant business.

The turnover rate and having attended a few huge house parties while in college were the primary two reasons I decided against it.  

Meaning a test by a qualified 3rd party the day prior to move in with affidavit stating it was clear of all pests.

I plan on buy and holding for the most part. I

The tricky part is if you buy the property and then add MORE to the property then there might be some things to know about.  

So the determination and reporting of value as well as handling debt and cash is your challenge when not using a QI and doing the delayed 3rd party exchange.

One one property where we were space constrained we worked it out with the neighboring owner for our tenants to use their recycling dumpster -- saves cost for both parties, easy for tenants since the dumpsters are basically back-to-back. 

I like "Let's Get Real or Let's Not Play" which is all about creating win-win situations where both parties benefit.