I'd like to brrrr and hold long term and it don't make sense for me to do it in my market due to high cost of homes.

@Jarrett James you said other investors got together and split the cost.

First time home buyer programs to pay for downpayment closing costs and renovation How did you add value to the deal?

One misstep could cost you significantly. 

You are happy to take charge, but they need to pay 50%.Can the split be like 45:55 for I pay 45% of the cost and my neighbor pays 55% of the cost because it's their dog that is lunging towards the fence when it barks and therefore reducing the fence's longevity?

Cosmetic value adds also significantly boost the rents and equity so you can often put $30-40k in rehab and create $70-80k equity for example which snowballs over time. 

Most businesses start factoring in CC transaction costs into their sales prices, so eventually this comes back as a pass-through cost to customers.

In essence, after two years I would have turned a $192k down payment into $284k equity (minus agent commissions and closing costs).After selling the property, my plan would be to roll this equity into other investment properties through a 1031 exchange.Questions:Is this a good opportunity? 

I deal with mostly lower cost starter homes, so I stage very minimally.

Instead of having the tenants split the costs each month, it is just easier for me to do it all and charge rent accordingly.