Hello Biggerpockets Community, I'm currently considering a unique opportunity to go 50/50 on a property with a friend, and I'd love to hear your thoughts and experiences on this matter.Background:My friend and I are contemplating joint ownership of a property where they will live and cover the mortgage, while her and I contribute 10% down payment.

Question on section 121 exclusion for cap gains, specifically the timing of needing to live in the property for 2 of the last 5 years.

What town do you live near by?  

The goal with this strategy is to have low living expenses as your tenants are helping you pay down your mortgage.

We are trying to figure out a good split of equity and cash flow since they will likely be putting more down upfront but they live out of state and we would be doing a majority of the management. 

I live in Southern Oregon currently and what little inventory we have here is massively overinflated.

I also gave her the address of another problem house, next to the house I'm living in, that has a squatter living there and she's looking at doing a tax sale on that. 

I think it depends if they need to live on the fees or not.

Are there amenities that appeal to people living there? 

I live in Fishtown and it’s definitely a neighbourhood that’s growing fast with lots of new builds and plenty of deals to get in, to flip.