Any way to get around this or any recommendations on how to invest in properties with a partner, while mitigating risk?

Hi everyone,I am just starting to look into partnering  and have just be overwhelmed with everything, so what better way to get answers then from BP!

My partner is a contractor, so he and most of his family (electricians, HVAC specialists) will be doing updates to the property, if that's helpful information.

Perhaps find a partner that is on the ground and other 3rd party partners that are experts in what you are doing (value add apt investing) and get going.  

So myself and my partners are currently in the market for what we planned to be our first single family buy and hold rental. 

m=9&y=17&utm_source=HAR%2FMLS+Master+List&utm_campaign=37e6c93251-January+2017+MLS+Release&utm_medium=email&utm_term=0_5c0a7c027d-37e6c93251-252424337Houston Real Estate Highlights in August, 2017: Hurricane Harvey ended ten consecutive months of positive single-family home sales, as volume plunged 25.4 percent year-over-year with 5,917 units sold;Despite Harvey’s rampage, single-family home sales remain 1.8 percent ahead of the 2016 volume on a year-to-date basis;Total property sales dropped 24.2 percent with 7,077 units sold;Total dollar volume fell 22.2 percent to $2.0 billion;The single-family home median price rose 3.0 percent to $231,700;The single-family home average price increased 2.6 percent to $296,418;Single-family homes months of inventory grew to a 4.4-months supply, but is expected to shrink with strong consumer demand for housing in the wake of Harvey;Townhome/condominium sales dropped 31.4 percent, with the average price down 1.1 percent to $196,230 and the median price up 2.0 percent to $159,000;Leases of single-family homes rose 9.4 percent with average rent unchanged at $1,857;Volume of townhome/condominium leases jumped 17.0 percent with average rent down 2.2 percent to $1,551;HAR continues to encourage anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page as soon as possible at www.har.com/temporaryhousing to provide housing to those in need.

I would like honest feedback.I know that FHA loans allow for gifts which I could most likely get from a friend/future partner, as a "handshake" and technically be without repayment listed on any sort of contract.

One piece of advice I give a lot of new investors: Network and build a strong team around you!

But we ended up with 2 strong candidates, so it was OK.  

We are looking to purchase house under contract with home partners in forney area.