@Jeffrey McKee law students are harder than lawyers—most lawyers realize getting to court is a losing game :)One thing that should help guide you going forward.

I'm trying to line all my financials up so I can finally move off the sidelines and get in the game. 

To give you a different perspective, if all of the skin in the game (money) is mine, why shouldn't I just pay you a 5%-10% management fee and/or a 5%-10% finder's fee? 

I am in BC and cashflow is difficult to achieve but if you are playing the long game you will come out ahead.

The Infinite Game by Simon Sinek43.

Both have fixed costs, and any reasonable partner is going to want you to have some skin in the game.

Sounds like they want to play the game, "Watch the Market Cycle" and buy another place if things cool down.Unless you have tons of assets to protect I wouldn't worry about renting to a lawyer.

If they are putting any "skin in the game," how can they be responsible for a loss? 

I just want to get a taste of the real estate game, any knowledge will be a great help.

They have more skin in the game then you do.Make sure you get clear title.