It also depends on how the transaction is structured and legalities in the state you operate.

It almost always costs you nothing (seller pays traditionally) and will educate you on the market(s) and tenancy profiles. 2) Buy a property(s) with long term (10+ year lease);3) Look for corporate credit rated tenants (think Walgreens, Starbucks, etc) on a Triple Net (very minimal LL responsibilities- think roof & structure) OR Absolute Triple Net Lease (no landlord responsibilities).4) Most credit tenants are experts in location selection (which again, minimizes your downside risk).... but as a rule of thumb I always prefer locations on traffic lit, hard corners with great/easy access and high Vehicle Per Day counts.My 2 cents.  :-)

Currently house hacking and trying to understand my tax implications and how to properly structure.

The 10 year period you are referring to is for Structural, not cosmetic. here is a link to NJ DCA consumer information on New Home Warranty: https://www.nj.gov/dca/divisio...

If you don't want to enter a long-term relationship with the partner, you can structure the operating agreement for a buyout after a certain period of time.  

If you are very handy and have generous amounts of time to put in, a few flips can be a good way to get immersed in the process of evaluating structures, offers and negotiations, contract to close, and rehab. 

Here are my questions.How should I structure the lease agreement in advance of closing?

Feel free to send me a message, happy to run scenarios, creative structuring or not. :)

Looking for suggestions on lenders or ways to structure the deal to make this work…Please let me know if any additional information is needed to make a recommendation.

Purchase price: $10,000 Cash invested: $67,000 Sale price: $160,000 Complete gut to the studs, rebuilt all flooring structure and most interior walls, all new EVERYTHING!!