If you don't have the downpayment, go make some cash so that you do, either through saving from your normal income or some real estate investing efforts.Your point on debt paydown, although true, is not relevant to the argument of BRRR vs. traditional rental.

The 1% rule is one of the most flawed underwriting techniques anyone can rely on.  

For guests, if it checks the "W/D" box then whatever fits will be fine, I don't think there is a true minimum.

Many investors choose a profit-sharing model for true equity partners, often splitting profits 50/50 or based on the level of their contribution to the deal, but ensure everything is clearly defined in writing to avoid misunderstanding/miscommunication. 

I will not personally rent anything that does not have a hot tub and a view, and is a true cabin. 

@Silas Melson If you’re aiming for true passive income, turnkey properties might not be the best route.

Quote from @Kevin Sobilo:not necessarily true.

That's true, but not nearly as true as they claim. 

That wasn't true (and I had our exchange in writing) so thankfully that sorted itself out.

Quote from @Jessica Neely: There are a lot of different techniques.