I'm aligned with you in the belief that worst case scenario, if the first deal doesn't work out for some reason, it will be an expensive, but valuable education - more education then we could ever hope to receive from a paid guru class. 

Align you and your partner's values.

It's always great when you're able to align interests with others.

Help me get something aligned.

Appreciation is probably not going to be all that great (unless there's some other economic factor that I'm not aware of) as larger companies like NCR have left and the population has been stagnant or declining over the past couple decades.Main point is, whatever investment you end up taking on just do your due diligence to fully understand the pros and cons (both long and short term) and make sure that aligns with your investing goals.

If you were going to hire someone for this purpose what process would you put them through to ensure you're dealing with someone reputable and to structure a financial arrangement that creates maximal alignment with the GP?  

My first purchase was in Durham, NC and I live in Phoenix, AZ for example.Starting with clarity on the goals and aligning your strategy can be a great way to start.

I am want incentives to be aligned .

We are now moving forward to take ownership of a property that meets our investment criteria and aligns with our initial financial expectations.To those who provided advice, shared their thoughts, or followed along, thank you for your support and encouragement.

Let them know your strategy, your goals and what your business plan is to ensure that your business plan aligns with theirs and you can both work towards the same goal.