Investing is personal and while you should look at what others are doing and learn from them, ultimately you need ensure you are aligned with your goals. 

Prior to any project, alignment of vision along with personal/ business benefits of partnering should be discussed and written down so it can always be referenced when issues/ disagreements need to be addressed.Communication is very important and if each of you understand that so much more can be accomplished together versus on your own then you're off to a great start.Generally, it comes down to pre-project planning, funding and project management. 

Is it best to have as a mixer only or to add some type of educational component.

Then the equity will be available for you once there is an opportunity that becomes available that aligns with your goals.

I've seen two variants myself:1. all bills go directly to the tenant - this does require a lot of trust but has worked out for us as long as we have someone check the tax sites and ask for insurance certificates at the deadline/renewal times2. all bills go to the landlord - the landlord in return charges base rent + common area maintenance prepayment (CAM) which can break down coverage of the NNN components. 

Hi @Kenneth Hynes, I'd look at your goals and see which option more aligns.

Whatever investor is buying a potential property ask yourself if the attributes of that particular asset class align with what your goals are ( the type of life you want to live, net worth, and cash flow )?

I do kind of miss a web component though.

@Tony Lueken The floor is not a structural component to the basement, it's only there so you don't have to walk on gravel.

Sure, changing structural components not going to happen.Just my 2 cents and good luck!