A short back story is a long term friend and co worker and I have been talking for a year about getting in to rentals (his parents own 12).

@Timothy YangCosigning with family members can offer larger down payments and easier loan terms, but may limit future credit or access.

But flips are hard to come by and if you're talking about buy and hold how does the 50/50 split actually look like?

In most cases there is very little fix and flip profits as a long term benefit. 

You can advertise it yourself and see if youre able to get any potential tenants and once you do I'd advise for you to hire an attorney to draw up a lease agreement including your NNN terms. 

Why buy now, when we're virtually guaranteed a lower rate in a short time period? 

Financial goals: Our current jobs provide for high-income but not a lot of time for active real-estate investing, so our strategy is long-term buy-and-hold with less headache properties.

If they end up being longer term tenants I will ask them to do it at certain times.

Are you more interested in short term rentals (thinking about opportunities to co-host STRs)?

I'm working on a short plat and will be building another house on the new lot.