I have also heard it can reduce home owners insurance by 10-20% if thats true i could pay for itself and just increase ever so slightly the cash flow.

I don't trust him with my money at this point which is why I am here :-)  I am a skeptic and trust is hard to earn with me so I am very leary to do much unless he has some skin in it to.  

Borrow from relatives who want to earn more than they get in a savings account.

True to the point about HOA dues for townhouses and condos, but those dues do include a percentage of your CapEx so this can be reduced in your projections.Hope this helps and good luck!

I guess fear of poverty was a driving force for me, I knew I didn't want to work that hard and long to earn a living. 

Any ideas on how to reduce the noise?

The misnomer is that those payments are not the buyer/borrower earning equity in the subject property but rather more like a rental payment which only serves to grant possession and not other rights and interests in the real property itself.  

I'd mitigate the worst case by not going over $150K on purchase price.Also, it looks like you have some money, so even in worse the worst case scenario, you could sell and sustain a loss without sinking.In the expected case you will invest about $200K and earn about $20K, a 10% ROI.  

Born in Somalia and raised in California, i attended Long Beach State University and earned my degree in Business Management.

I could have substantially more if I have liquidate some stock investments and reduce how much I contribute to those.