The only cost is what you personally contribute in cash, and should be restricted to the down payment. 

Just remember you were new at one point.Chico- I get your point and I think I have contributed quite a bit to newbies.

So, my primary contribution would mostly be the funding, otherwise would be fairly passive.   

So, my primary contribution would mostly be the funding, otherwise would be fairly passive.

My initial thoughts are to get a few roofers to give estimates on the replacement cost and have that amount be given to be in seller concessions (they contribute towards my closing costs) to help me have the funds to replace this day 1.

I’ve done a few different JV deal structures on our buy and hold properties and the one that was similar to your situation where I was boots on the ground, did all the managing and accounting, and the capital partner contributed the down payment, closing costs, and all rehab costs we did a 30/70 split on the ownership and cash flow (70 to capital partner) until we are able to cash out refi and pull his initial capital out where we become 50/50 partners. 

This would be simpler and more convenient (it does not make sense to have Traditional self-directed IRA, contribute there only to convert to Roth, there are fees while you can have your Fidelity Traditional IRA at no cost).2.

For example, I might look at a client's data and develop an algorithm to discover factors that influence whether or not a lead converts to a paying customer.I have a few ideas as to how I might be able to contribute in the real estate field; however, I'd love to hear your insights!

And then moving forward together as tenants in common.Or an entity could be created and he contributes the properties and you contribute cash or something. 

@Jon D.I own properties in Charleston and Miami so I feel that I’m qualified to contribute to the conversation.