A lot of this is going to be what fits best for you - your comfort level and your experience level. 

The new property will likely need some work to get the units to the level of my current property.

The question is whether you can properly screen them and what level of risk they present.

When you get more square footage, you get more economies of scale and as such, the price pSF goes downward.Lastly, each investor or contractor has different skill levels and different purchasing powers.

Once you've been burned by one you will vet the rest as if their auditioning for an entry level position at the CIA.

At a glance, it skews as a better deal for the money partner, because once the sweat-equity has "paid off" their half, they are (likely) continuing some level of management responsibilities that the money partner isn't worried about.

In Saudi Arabia & Iran, just to name two, the governments, propped up by oil money, have huge unemployment system benefits aimed at young people (under 35) because of their massive, permanent unemployment levels in a demographic that, if it's not working, is getting into trouble and fomenting revolution.

The parking lot is almost on level with the creek so it doesn't take much for it to overflow into the parking lot and basement of one of the buildings (currently there is a 2 ft berm built up from prior owner. 

This is an interesting question in that what is your level of desired commitment to the investment?

We flip and sell every two years, our income levels are not exactly great but as two mid 30s with no kids, spoiled dog and a couple monthly payments were sitting great yet.