We'd need to know what kind of market is the park in, Ratio of POH to Tenant owned, Economic vacancy of the park and apartment building, rent in the apartment building, expenses ratios for the park and apartment building, utility set up for the park, age of the apartment, possible deferred maintenance. 

In the entrepreneurial spirit however my boat is a 1981 and needed lots deferred maintenance/upgrading.

Sounds like a good tool for asset preservation, less suited for appreciation, a good option to defer taxes via 1031 particularly if you are in a market that is high and you wanna take a break from active real estate investing and wait till things cool off a bit.  

When I find a MF deal that we want to purchase, needing help of partners to help with downpayment and possible upfront CapEx money to address deferred maintenance on a property (roof, exterior, etc), what is the best way to structure the relationship? 

I'm getting mixed messages from your comments.At first, you sounded very leery due to the deferred maintenance.  

@Chaithra Kumar - can't really tell what the appreciation may look like in the future here - i will defer to locals like @Wes Blackwell.

Especially, since it was built in 1910, I would get an inspection to see if there is deferred maintenance.

Make sure to get an inspection and use that as leverage to negotiate a lower price if some deferred maintenance is uncovered.

My initial thought thought on investment due to my current situation was just a condo unit or townhouse, but looking on MLS and the strata fees I find are just ridiculous sometime and I feel like these could eat up costs as well as defer any potential future buyers. 

@Randy Walters, A well planned 1031 exchange is going to let them defer all tax and depreciation recapture (which might be the worse hit).