The more important part is knowing what numbers to put in the spreadsheet.

. § 44–14–80 was modified to provide for an automatic reverter of title to land described in a security deed after seven years from the maturity date of the debt secured thereby or 20 years if the parties so expressly agree in writing in the security deed.”

I was able to move into the house once I got it more comfortable and the best part is my girlfriend helps pay the mortgage!

If I had partners and was paying for a service to a 3rd party anyway, avoiding SE taxes wouldn't be my focus so I would probably try to do it.  

You have to have a strategy to prevent these things...and I would think you don't always want to leave that to third party property management, that you want to do that yourself.Probably in most cases if you're just going a few times a year, and you're going in peak season, probably cheaper in the long run to rent hotel rooms or other STR vs buying one if that is your motivation.

@Carson CampbellThe lack of communication on their part is annoying, it the norm for a couple tenants I have though.

It works best in suburbs that allow the most unrelated parties and reasonably-priced homes such as Arvada and Lakewood. 

How can you ensure (in a contract) that both parties receive equitable stake in the property?

Both parties sign, both parties keep a copy, and life goes on.

A friend of mine wanted to host a big summer party for a large number of friends and had to cancel it when he found out he needed consent from all neighbors.