if you are looking to get out of the 2nd job and get some time back being a hard money lender or other "money man" part of a deal is about the most passive you can be.  

When you sell, how is the money divided up? 

That is illegal and may actually be criminal under state and federal law.

@Chuck DreisonI have seen them 90 days to 3 yearsWhere I see them more in on hard money loans as some already have interest prepaidThe 3 years were on 2nd position notes which were newly originated and down payment assistance

It gives you valuable experience as a landlord firsthand which will be helpful down the road when you consider a BRRRR strategy with hard money.

Owning a property with the sister is about impossible as she is not good with money or business minded.

(Not actively purchasing as my money is tied up in the market right now)...so with the 2 lenders i've gotten here:STR DSCR Rural (not a log cabin or other non-conforming structure) just remote sfrHybrid loan 15% down, interest only investment loan with seller paid points to get to ~8% and reduce closing costs DSCR would use long term rental rates to establish monthly DSCR and then offset monthly with average DTI and 800+ credit and high cash reserves as long as DSCR is .75+additional appraisal to establish STR rate estimates to be used alongside the standard long term rental rates5 year prepayment penalty with reasonable terms

I would rather spend some front end money now and do a relocation, then be able to use simple side-by-side units than to be forced into stackables or all-in-ones.

I aim to utilize other people's money to invest wisely in buy-and-hold multifamily properties.

Given your question however, I get the sense that this might be your first time managing a project like this and so would strongly advise that you connect with a General Contractor that you can trust as it will end up saving you a lot of time and money over doing it on your.