@Mike S. you'll certainly learn a fair amount about the process as an LP, but if you really want to get involved in the day to day you'll likely need to find a Sponsor who is willing to let you get in on the GP side in return for some specific skill(s) you bring to the table (deal sourcing, underwriting, capital raising, bookkeeping, etc.).

On a few occasions that I had to go in, while he's gone, a bible would be open on the dining room table where's he's reading it.

It's all predicated on what each party brings to the table and the value of that particular trait to the success of the venture considered.

If you have already have good deals then you can bring it to the table, otherwise it is just a talk.

You can have private lenders fund your deal, it's rare but I've had deals where I've funded more than 100% of the purchase price from a private lender.In terms of regular transactions though, either save up the 20% or find someone else who can bring it to the table.

It also is the least expensive of the mountain main towns in Colorado.

They're bringing the money to the table and we're bringing the sweat equity.The intention is to buy and hold rentals for "the long term" but neither party has a clear goal or timeline for selling - except that selling is most likely to happen eventually.

What does she bring to the table?

The HOA does not have a map for the proposed road (all they have is the same table of coordinates).  

Basically, I feel strongly that I left a minimum of 40k on the table.