He will benefit 50% from cash flow(if any), mortgage paydown and appreciation without all the exposure.I would like to hear from investors who have their kids involved, accountants, CPAs, attorneys, realtors and all. 

Lastly, build relationships with cash buyers and hard money lenders early on—they’ll be key to closing deals quickly. 

Start researching price to rent ratios in areas and see which area has the best combination of cash flow/place you want to live!

Stack cash & build credit. 

They only accept cash.

What is best for a newbie with little cash on hand?

@Matt Tortora For cash flow? 

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

We would like to create a partnership where we are 50/50 partners and he brings the cash and I bring the experience, knowledge, and contacts ect.

Cash flow might take a bit of a back seat but building a team you can trust and building experience are top priorities in my eyes.