Do Numbers Work to Partner for our First Deal?

[Michelle Yoder]

Hi Everyone!

We have recently been talking highly of real estate and Bigger Pockets with our friends and, much to our surprise, a friend offered to partner up with us so we could do our first deal! Together we have enough for 20% down which we're excited about, but leaves virtually no money for large scale renovations. Our partner came across an off the market deal and we were hoping the BP Team could help us determine if it's worth while since this will be our first deal. The home is slightly out dated, but needs no major capital repairs. It's a 3-2 with a 2 car garage, brand new roof, and approx. 3000 sqft. in a settled neighborhood. Our plan would be to rent it out long term.

We ran the numbers, but we're not sure if the numbers are good enough since we'll be splitting the profits 50/50. Any advice?