They could still get the bonus if they spotted me on the mortgage payments, but they pulled back because they assumed the worst of financial troubles.

With what you describe, it doesn't sound like your wife is completely against mortgages and debt, it just sounds like that paid off property is and asset in your family's financial 'toolbelt' so to speak that she takes a sense of security in knowing is paid for. 

Not only can you save 10% of gross rent but you have better control over repair decisions and you can defer non emergency ones based on your financial situation.

I think buy and hold is the best route to long-term financial freedom.

The duplex makes better financial sense. 

In other words, if we do a 50/50 split on equity, and things turn south for whatever reason, I am taking on 100% of the financial risk. 

Every financial planner....and I mean every single one....will advise that you absolutely need to have 3-6 months saved for an emergency fund. 

Get your financial life in order, educate yourself instead of wasting money on gurus, and then start building wealth the right way.

@Delmas Edwards,A lot depends on your personal financial situation. 

They seem to be doing fine as they have managed to keep a balance of about $6k in their bank accounts but would I consider them very risky and I don't think they can afford paying $2,200 rent without facing financial hardship.