You'd have to venture out in the secondary markets to find a clean deal above the 1% rule.You may want to investigate @Ben Robertsadvice and check out Memphis.

If you were private money you might get 6-10% and have no control and not learn anything.If you want to make it work and be a true "1/5 partner" than do 1/5 of all the work.  

There just is not the same amount of control and it is a pain when something goes wrong if the property is hours and hours away.

If you are the landlord then you control the terms of the rental agreement. 

But you can't control everything. 

To me its just a function of the overall socal market - no rent control, proximity to lax jobs, etc.

My concern is both take care of the property and both pay on time, i am unsure if i want to continue renting because he wants control of things and it makes my life stressful BUT he is in the right according to local law.

Good luck with your real estate ventures!

Also that many times folks owe a lot more to a lot more people than is immediately apparent or than they disclose.Also I hope that your relative doesn't know that 1) you have all of the money available to help them, and 2) that it is in your sole control.

This legal entity, the Trust, is managed by a Trustee, who has control over the property.