Not to mention watching a bank account decline on month-over-month probably 50% of the year.I can see doing it if you want to spend time there during the off-season, let friends and family use it during the off season, etc. but on a pure ROI basis I've always found better options in multi-family. 

It feels like a huge mile stone in my REI career as this is the first property I bought as a pure investment.

This post serves purely as a warning to others.

So question is are there generally accepted standards for profit sharing between a purely capital investor (what my partner will be become) and the partner directing operations (which I will become)?  

go get them, good gurl go get them.. ..you should see how they wiggle their butt out of pure joy.But no no no.. that is not all  Buttercup!

If you're looking for pure cashflow, you will suffer on appreciation and vice versa. 

Do you want to risk it.....purely up to you.

We buy both locally and pure out of state.

We invest through two methods, pure rentals, and personals turned rentals.

You can buy a second home for 10% down, but pure investment properties are looking at 25% to 30% down.