Does this sound fair?

As an out of state investor wanting someone with skin in the game to care about the property, some kind of partnership comes to mind.Know a young guy, who is the son of a friend, who is buying property in a southern area that is conducive to cash flow.Understanding how one person that carries all the burden could feel like they are getting the short end of the deal, I wonder what kind of arrangement would be fair where one lives in the area, finds property and keeps track of it, while the other investor is out of town too busy to be involved.I have more capital and credit than does my young friend so my contribution would lean more towards the capital side but that makes the partnership lopsided.

You both should have a look at fair housing law:Unless a building or community qualifies as housing for older persons, it may not discriminate based on familial status.

It is fairly new (less than 10yrs old) and needs light rehab of about 6-9K (paint, carpet, light fixtures, maybe appliances).

These questions will help you determine the strength, fairness, and commitment the Board Members to the the HOA.

Unless you have a competent PM handling everything for you, you need to become good at evaluating people's behavior and past history, and reading between the lines, while at the same time treating everyone fairly.

I also found that if you communicate really well with a tenant from the beginning and explain what your expectations are and if your reasonable in your requests you can create a great tenant.

Fair enough, thanks for the help guys.

You are fairly new to BP but I have answered this same type of question quite a few times in the past and many on here probably sick of hearing me say the same thing so I would urge you to go do some research on some of my previous posts and threads.

Communication is key in times of crisis.