Has anyone had experience with contracts or partnerships like this?

@Garrett Brown happy to have heard from someone that does this!

What does the squad say on this?

This is a very broad question. 

What made you interested in investing in this type of deal?

@Jesse Dominguez-Castelan You should also explore one of the quickest options to this situation - reach out to the seller financing provider and see if he'll extend the balloon a few more years.I did this in the past when my 5 year balloon was about up, it was a simple email checking if he was happy with the arrangement and would extend an additional 3 years. 

This market has its ups and downs.

Let's keep this as simple as possible....Ex 1: 3 single-family rentals, value $300-400 each.

I've done this, and my credit score dropped tremendously (60+ points).  

I had to put about 25k of my own money into this first deal between the down payment, agent commission, inspection, closing costs, and holding costs, so I'd like to get as much of that covered as I can on my next deal.