I'd prefer not to put my life on hold because of this.

He's got 24 with a few being multis idk how he does it but that's his preference. just signed a new 1yr lease and told current owner she didn't want to leave she'll just renew with new owner.

This type of loan product prefers LLC vesting and is designed for investors but 6 partners is tricky.

Just preference.

Otherwise my preference is to invest locally.

I know there are different rules and personal preferences on this topic but I wanted to see what the general consensus was for my goals/objectives and the pros/cons of putting a small or large downpayment.This would be my first house and, since I'm currently renting, it would be a place I would staying in.

I really do enjoy toying with real estate.

We prefer to cover materials and only pay labor when work is satisfactorily complete.

Unless you want to be part of a lawsuit to determine the legalities of this you may prefer to not get involved.  

Definitely prefer low maintenance since this will be a rental.