High cost which equals Higher perceived risk(especially for the wife).

South ShoreThe announcement in February of the redevelopment of downtown Quincy, MA, reinforces my belief that “all healthcare is local” and reinforces the trends towards high quality real estate in local communities.

You might also consider utilizing percentages and have values based upon the rent, such as the security deposit being equal to the first months rent, this way it can vary from property to property but won't be construed has being different for an arbitrary reason.Disclaimer: The information in this post does not constitute legal advice and does not establish an attorney-client relationship.

For example, net cashflow of $500 per month and $500 equity increase from mortgage payments, which equals $12k per year.

Drive by the higher end sold houses exterior renovation usually equals what the interior renovation looks like, check the MLS or even zillow sometimes will have what the condition looks like.

Any ideas for helping the 3rd partner get to equal ownership? 

Look for deals where your equity is on equal ground to the LP.

Renting has traditionally been seen as throwing money away, as many people also see homeownership as a financial investment in their future thanks to the popular belief that property will only ever rise in value, even if the recession of 2008 demonstrated otherwise.The reality is that allowing for inflation, house prices have increased by just 1% during the last century, representing an extremely poor return on investment, and one that has been easily outperformed by the stock markets and direct investment in businesses and hard assets.

@Ziad Ibrahim Since you work overseas, you have the advantage of choosing a market based on it's returns, and not falling into the limiting belief that you have to invest where you live. 

(Take out the way off variables like "political beliefs, crazy cat people, or any other sort of non-conforming oddballs that you meet from time to time in the rental world.)