In other words, trying to figure out how you structured the ongoing costs and margin while doing 50% split

It has been on going.

I ran into this recently for a property I own in Berwyn, and I had to dig deep to learn more about this. 

The remaining 25% of the gross rent will be absorbed by vacancy losses and ongoing maintenance expenses.

Instead of the 20yr, I stuck with a 30yr amortized loan with let's say a... 3 year balloon payment. the break even for the numbers I ran here was around 470,000.

This is how I ran my HML company for years I have 300 investors and about 50 million out..   

We have both done major renovations to our properties, so we are relatively well versed in home upkeep.We are looking for guidance on how to get started with the financial side of things and wanted to see what the experts has to say.We plan on going in to this deal 50/50.

I ran into a deal that is right across from an elementary school.

I ran into a case where the property was last used as commercial but historically it had been used as a residence before zoning existed, therefore they allowed it to be a residence again.Next, ask your lender if you can use FHA on this type of commercial zoning.

Additionally say someone is retired with little ongoing income except for properties but great net worth.