Plus I will be helping him work on the house on the nights and weekends when I'm not at my full-time job.That being said, this is now his full-time job where he could be putting in 40-60 hours a week, which certainly will eventually add up to more time than I've put in.Is this a fair way to structure the deal?

Okay, full transparency...I am biased...As a 30 year broker, licensed General Contractor, owner of a property management firm, and the owner of 16 investment properties, I think self-managing to save property management fees isn't worth the hassle, learning curve cost or the liability and risk. 

I put this on my FB page, and it really encouraged a lot of people to really think about taking action in ways they hadn't thought of yet.This past January, Ashley Murphy and I got serious with the talks of her quitting her full time J.O.B.

yes, no different than if it was owned outright, assuming the loan can be paid off in full from the transaction.

She's been an amazing full time mom for the past 5 years, and will likely continue for the foreseeable future. 

They want a full blown home rented for what utilities cost me.

About double, though that was only in the summer time.For full disclosure, it also didn't help that the management at the complex were idiots. 

Specialty firms typically referred to as IRA facilitators and advisors perform this type of legal service.If you qualify as self-employed and have no full time employees, a Solo 401(k) is also going to provide checkbook control, and as a retirement plan has several advantages over the comparable IRA LLC.

There is the "delayed financing" option but the issue you will run into is that if you did not season the funds from the personal loan into your account for at least 2 months, the loan will preclude you from the exception and you more than likely will need to wait for the full 12 months to season the ownership to be able to use existing value rather than purchase price. 

@Calvin Liang The only reason syndicators (full disclosure: I am one) are selling in 3-5 years is to be able to share in the promote i.e. disproportionate share of the profits due to the syndicator putting together the deal.