I wasn’t sure how long I would be holding the property, and I didn’t think find a  cost effective way to do it. 

That being said, there is a way in QB SELF EMPLOYED to manually insert transaction - a feature made available so you can insert a transaction if connection to your bank account is not working. 

Or do you self manage? 

Been self educating myself for awhile with books, podcast, webinars.

Apart from the profit split (50/50 as you've mentioned), you should really focus on who has effective operational control i.e. who has the decision-making power.

Ideally, if it's a service member self-managing, they'd disclose that to potential tenants and have systems in place to minimize disruptions, but sometimes stuff happens. 

I have an out of state deal with a seller, we have an agreement that takes effect after a lien expired in September.

All were done in a self-directed Roth IRA with checkbook control. 

When you partner with someone, the money they put into the property isn’t counted against you as debt on your credit score which can have a negative effect on your ability to get loans etc. that is one of the benefits of partnering with others.

Others mentioned putting it into a self-directed IRA.