A partnership worked in my case. For 5 years two of us owned an R22, fresh out of overhaul, and did 350 hours between us. Then we bought a JetRanger, worked the ass off the R22 in a flying school to catch up the hours, sold it earlier this year.
Mind you, we did live in next door villages, so I guess the 'out of my back yard' scenario didn't really apply.