Financially this is not a good investment approach as it seriously reduces your ROI.

I would like to start investing in order to gain financial freedom and achieve all goals I have set for myself.

Financials We are purchasing this property for $185,000.

My wife and I are newbie's and are looking to start our road to financial freedom.

Peace of mind and money.Like the poster said above, make it effortless for them to relocate to a different place including a financial incentive.That's the only way I would move from somewhere that I liked.

Yes, financially many times it makes sense to buy and move into a new primary as rates and terms are better. 

So....Scenario 2)  We're partners - I provide a bulk/all of the financial input, he provides a bulk/all of the "sweat equity", we split ownership - how do we figure out ownership percentages?

Similar to @Jon Crosby I think ADR's and hotel financial tracking and the like are over-rated. 

Looking forward to connecting with others on the forums and eventually becoming financial independent with the help from real estate investing in the future. 

I’m a mother of 4 my husband calls himself a corporate slave and that’s the reason I’m determined to become financially independent I have always been around real estate or had something to do with it.