You CAN create a limited partnership and define the ownership as you please, but the members can not sell their share; if a member wants out, the others buy him/her out.When we say Shares, think Stock Exchange share which are governed by the SEC.When forming a legal entity, you would acquire the right to sell shares openly ONCE registered with the SEC. 

Advice by Ming is spot on!

Marysville is a great spot for them!  

lol, interesting comparison I would draw the same one for buying stock but that's just me.  

Ever since I got the chance to start training people on real estate investing, I have got a chance to see real estate markets first hand nationally and I have also done some overseas mentorship and got to see the real estate market in several spots in Canada (B.C.

You don't have to evict your stocks to get paid or fix your stocks front door.

If so, test a spot with some paint and see if it seems like it will stay up.

Build your ability to spot a good deal quickly, and to estimate repair costs, so that you can make a decision quickly if the right deal pops up.

Better to invest in somewhere, either Real Estate or stocks/bonds/mutual funds or a mixture of both.

If you have a ton of experience and there is not too much risk on the money and a very good chance of making a large profit, then giving you a larger share of the profits might make sense if it's a better return than he could get in the stock market.