I really would like to secure this deal but i'm running into issues.. 1) I bought a 2 Fam 8 months ago (main residence) so my mortgage broker said i'm maxed out.

I am trying to get all the wording right for a mobile home sales agreement where the buyer is going to be able to buy the mobile home after renting it for 12 years for the price of the security deposit.

If that doesn't work for whatever reason, I'm going just have to start out slower using cash to secure 1 property and work from there I suppose.

As a newbie, he might benefit from the security of not having a note to pay on a first property while he's getting his feet wet.  

(I am not interested in just borrowing the funds for various reasons; mainly because I have this uncomfortable feeling of owing a friend this much money...even if I know it's somewhat secured in a property)Is 50/50 split ownership fair?

There is a big difference between secured/leveraged debt and unsecured/unleveraged debt. 

I am here today to start looking into securing my future success, can not stay in the military forever.

I have a $2200 security deposit in my hands.

I'm sure that once I feel more secure in my knowledge in real estate investing I will probably use other methods in order to obtain those rentals.  

Not to mention income security.