When vetting PMs it is very important that you ask the right questions, and I am going to include a portion of a recent post that I hope you find helpful.

I could take out a HELOC on my private home for a portion...maybe also a loan...but I think it would still be short of the necessary funds.

You want to see something that has low or no seasoning for a cash out refi or that may require low amount of documents.What is your draw fee & benchmarks for the repairs portion of the borrowed money?

Portions were farmed out for the roofing, electrical, basement drainage system, and driveway.Rehab included: new roof, basement drain tiles/sump pump, bathroom renovation, kitchen renovation, upgraded lighting in kitchen&living room, new smoke detectors connected to power, ran electrical to detached garage, paved driveway, painted throughout, re-finished hardwood floors What was the outcome?

If the tenant doesn’t pay there portion you can evict.  

Using a portion of equity through a HELOC to make additional investments is a smart strategy provided you do not tank the initial investment through this tool.  

Give them portion of cash flow equitable to their contribution to down payment OR give them ownership % with a buyout opportunity at the end of the term OR provide a guaranteed return? 

@Nelson Lin  Read the above, but don't think anyone pointed out that the funds that the sponsor contributes to the raise is part of the 80% (I see this termed A Shares) as they are also investors, not the 20% sponsor portion (which I see termed B Shares). 

Let's you and the fam live as a group in the main house with a portion of costs covered by that rental door over the garage for now.

It may not work for you but I found giving my partner ownership of a certain portion of the operation was helpful.