I think the best way to safeguard yourself for situations like this is to ask for referrals of current students who joined for the same reason you are interested in learning.

I'm in the same situation as OP. 

Is there anything I can do as a partner in the deal to help in this situation while still having the loan in his name? 

Once an LLC is in the situation, it is a whole new world. 

There can always be a situation specific to you where your intent was to hold but something cause you to change that. 

I would encourage the use of a warranty deed to the situation that @Steve Vaughan mentioned above.

And, I think most women would choose a midwife that has gone through pregnancy.Like the OBGYN situation, there is a lot a CPA may not know about the rental business from debiting and crediting some journals and filling out line 242 on some Turbo Tax input form.And, understanding the operating details of the rental business are just as different from preparing a tax return as being pregnant is from delivering a baby. 

Quote from @Bob Dole: All,Apologies for the newb question, but I just heard about cost segregation and have been reading up about it online.My understanding is this (and please correct me where I'm wrong):Pros: -accelerate depreciation, front load (vs. just a straight line over 39 years) -save money on taxes because of the depreciationCons: -if I sell the property, the recapture will be larger -not recommended if you flip propertiesSo hypothetical situation:-Majority of our income is W2 based, let's say it's $500k-Net income from commercial rental is $100k-Income from dividends and interests is $100k-Both of us are full time W2, so non-prof real estate (but this can change  -- please see below)So we're hypothetically grossing $700k a year. 

Let’s say a property is, in its current situation worth $300,000.  

It's important to ask yourself, and be honest with yourself, how you would handle managing tenant situations if you were to become a landlord.