Instead of us both putting money in up front together I would put up the money down, and cover the renovation cost, and carrying costs.

My Strategy:- Buy with primary goal of renting in the future- Live-in flip for the first 1-2 years to build equity and increase potential rental price Exit Options:- Refinance and rent the property, using equity and savings to buy again, move in, and repeat- Pull equity that built due to small renovations done over 1-2 years and purchase another property w/ intent to rent, staying in this first one- Sell/1031 (thanks to forced appreciation from reno)Will this work regardless of the asset being a townhome or SFH, or am I missing something? 

This builds equity and cash flow while enabling people to live for free or at a significantly lower cost.Sweat Equity: To increase the value of their properties through renovations, repairs, or property management, some investors have depended on their own time, expertise, and labor.

I'm thinking, hypothetically, being liquid about $100k and seeing where that can put me in terms of building up my rental portfolio and/or seeking flipping opportunities to grow my capital to get into bigger projects.

We have about $35k liquid for renovations and another $15k ish set aside for a down payment.

Are you looking for passive investments that are fully renovated or will you be adding value through renovations you are doing?

After about a year of that, I turned that position into a full-time job that was half property management and half project management.

They don't have to create or buy a separate apartment space, and they can use the same kitchen, living room, and amenities as everyone else which means less planning, renovation, and setup costs. 

Maybe there is an opportunity to put a little less down payment and use the rest to force more equity via renovations.

We bought a two-unit in the union street historic district (city) and are just finishing up the final touches on the bottom unit, will be ST renting that one while I begin renovations on the upper unit that will be MT rental.