No need to do a partnership on first deal.- Also, you don't know enough to NOT get screwed, intentionally or unintentionally, by a partner.See copy & paste info below:------------------------------------------------------------------The Real Estate Crash of 2008-2010 caused real estate prices to crash across the country - but didn't affect rent amounts.

It sounds like you may have read up on confession of judgements.

Any advice on my options? 

If one side covers most or all of the payment, you’re essentially “house hacking” and living nearly rent-free.

I estimate total construction costs will be around $1.3M–$1.4M.His initial idea is for me to cover the construction costs, and then we split the profit once the project is sold.How would you recommend structuring this deal?

It's not uncommon to see all sorts of problematic HOA rules, such as:Owners may not lease units at all.Owners may only lease units after owning them for more than one year.The HOA must meet/screen/interview every tenant and approve every lease (usually for a fee, and with a significant delay).No leases of less than one year.No STR or MTR.I could go on and on, but you get the idea.

@Alana Reynolds Do you have a hard money loan on the property?

@Timothy Hero Happy to step in to cover your relationships.

I simply don’t have the money to cover a down payment and rehab.

Focus on earning a high active income.