It's certainly a creative way to source motivated property owners, but it can also lead to manipulative tactics/practices from others by utilizing their unfortunate situation, leaving a sour feeling in my gut. 

But all he has lost is time, whereas my wife and I have taken on all the financial risk.My questions for the group are, how do we feel about the split?

Get a feel for the big stuff and just pad your numbers.

If you own a vacation rental in the Smokies, it might feel like demand is soft.

Our consultations are 100% free if you want to brainstorm about the best method to attack your exchange.  

I think will be extremely difficult for then to get money out of you but may be easy to get a free stay and claim any eviction attempts are retaliatory. 

I'd be happy to go over this with you if you have any questions - feel free to reach out at the contact info in bio.

Nevertheless, leasing does feel like a waste of my money.

Agree with Wilson, Tracy is not so attractive but feels Modesto area still has charm, one more point to note is ROI will not be in new homes but some possibility in 1980s with some TLC.

That is going to put you in the $40k range to get started.Feel free to reach out in the dms or contact info in my bio if you have any questions - happy to help however I can!!