End result was living in a much better house in a much better location for a net cost of less than my previous house plus it added another rental "unit" to my portfolio.

Our setup has us splitting losses 50-50 as added insurance to the investor and as a way to show i have skin in the game. 

Why don't you take some pictures and put up a test ad on Zillow/Hotpads/Tulia to see if you can get high enough rent to make your primary residence cash flow?

So I am wondering if we should have been very clear that we wanted this duplex for the "added value" we wish to bring (by rehabbing) and turning around and renting & refinance...

I know because I've been hosting on Airbnb for almost 4 years, so I get all the insights.My listing was high occupancy (summer months), across the street from public transit, great neighborhood, private room with private bath with jetted tub, one block from the beach, and I struggled to get $10K per year.I don't want people to get the wrong impression about how much they can make only to invest money and be disappointed.

He added my name to the title in February, and after 6 months, Huntington Bank said they'll give me a HELOC which I'll use to buy him out.

ALSO I should've added another $15,000 to cover repair costs.

Bandit Signs, Craigslist ads, Driving for dollars, Cold calling, searching on the MLS, and direct mail.

Howdy @Bryce SablotnyYour numbers are not adding up.$175K Purchase price $35K Down payment $120K Loan Amount Where is the remaining $20K?

This renovation will take 3 months as it is very extensive.