Know you could always to a guaranteed payment / consulting fee, but think he prefers having some sort of interest.Any thoughts about what is fair. would be appreciated.  

However, I don't have a lot for a down payment so I would probably be buying with another partner.

Should we sell, we would be starting all over again with some good experience and cash in hand for another down payment or cash purchase in another market.

Now I am the landlord and live 2 hours away and switching the payment to be mailed to me by money order or personal checks.

Fix and Flip/Bridge Loans—No MInimum Experience Level DSCR Loans—12 Month Payment History For Primary Residence New Construction Loans—2+ Exits Within The Last Three Years You may quantify your experience easily by taking advantage of our experience template.

Fix and Flip/Bridge Loans—No MInimum Experience Level DSCR Loans—12 Month Payment History For Primary Residence New Construction Loans—2+ Exits Within The Last Three Years You may quantify your experience easily by taking advantage of our experience template.

If at all possible, I'd suggest beginning with a house hack because it should cut down your own monthly expenses while you build equity and there are great low down payment programs available for owner-occupied financing.

@Ferria CunninghamIt is my understanding these loans have no payments but typically followMuch more strict LTV’s, so they would not allow a borrower to exceed / go over 100% ltv

On top of the 8 months I would need another year or so to save approx. 30k for a down payment on the second property.

You can also sell it to someone with a large down payment to recover your cash, and hold the loan until they can refinance.