Potential deal with Investor

[Logan Hassinger]

Hello everyone I'm new to BP but also REI. This is my first post to the site and looking forward to some great feedback on a potential deal I'm looking at. First let me say that I'm a buy and hold investor and in it for the long haul. Purchase price - 54K Down Payment -10.8K Rehab costs - 2.2k Rent comps in area range from 700 - 1200 a month (average is 900) Potential rental income- 900 Monthly Expenses PITI- 405 Maintenance- 50 Cap Ex- 90 Vacancy- 72 I'm looking to partner with an investor that would split the down payment and rehab costs in return for monthly income (10% of Gross Rent). Full return of initial investment would be locked up for 2 years and once investor requests initial investment back then monthly income stops (partnership over). Mortgage is in my name alone and investor would have no ownership rights. Let me know if additional info is needed. Thanks everybody.