So if you have what it takes to conduct such due diligence good, if not, then I suggest to continue educating yourself on the topic by reading not only about syndications, but also about various asset classes you invest in and markets you're planning to invest in (books, podcasts and networking of course are all essential factors for success!)

Bought at 145k, all cash, with a 20k seller credit at close, so essential the prop was 127,500, all said and done.  

It’s essential that you know what you have and everything about it.

As a new landlord, it is essential that you read through your state and local landlord/tenant laws and know them as well or better than your tenant does. 

Consider splitting the difference, buying new for your essential pieces and using secondhand treasures as accents, decor, and other non-essential elements.  

But essentially a "conventional" type will require you to have 25% equity in a duplex that you do not occupy. 

Reading and gaining knowledge is definitely essential but it wasn't until my wife @Jessica Franco and I started going to local meetups and networking that we started taking action.

The system in your car is essentially the same system, just weaker and a little less complex.

I would essentially have the same mortgage amount as it is today, I get my desired cash (without financing), allows partner to finance versus coming up with $225K cash, and in return give up 50% of the house.Is this a make believe scenario with legal and lender issues, or is it viable?

Essentially I was just an assistant for him.