Others network and form partnerships to take down bigger properties and still others use their funds as a LP in a syndication.

I hear that people can get into a lot of legal trouble and most partnerships turn bad.

This is a JV or partnership not syndication.

I would also be open to doing a partnership on deals with the right mentor, if it makes business sense.

Since he owns the property through an LLC, he is willing to allow me to buy equity into the partnership now with the $50k cash, with the option of purchasing another portion of the partnership next year.

Naturally, with my first goal, you would think this would be all poured into acquiring additional properties and while I am not opposed to that, we are expecting a baby in January so maybe the short term course of action is to find good partnerships where our capital can be leveraged in someone else's model for the time being.Our Problem - We do not have many/if any like minded people in our social circle that we feel comfortable lending capital. 

Open to Masterminds, partnerships, networking, general exchange of experience and learning.

It seems like this is for a partnership.

Standard partnership legalese about splitting money, leaving/buyouts, etc.

I would just be able to bring the financing side to the partnership.