We want to have a contract in place stating who does what, who's responsible for what, who get's what cut, and who will invest what. 

Hire a lawyer that you trust and ask them to make a few calls for you, maybe write a very clear letter and see what kind of response you get.

Real estate adds responsibilities, and you should move forward cautiously, measuring those responsibilities against your income.

I apologize for the delayed response here.

Clearly define who has what role and what financial and day to day responsibility each of you has. 

Thanks for all the responses.

If the response is "No"...Q: "Can we do it for 30 days only?

Very responsive and attentive. 

@Shaun Palmer appreciate all the resPonses, didn’t expect this much feedback but thanks to everyone...So it is a 50 gallon electric water tank but is being used as an indirect holding tank off the boiler with a circulator...

@Katie LeporeOh my God Katie your response was so helpful!