Rookie Investor - First Deal and Partnership Advice

[Jack Sorenson]

Hello! Rookie investor here and I am looking for some advice on my current situation. I graduated college in spring of 2021 and have dedicated most of my free time on researching, reading, and listening to lots of podcasts on real estate. At my new job I brought up my want to make my first deal in 2022 to a co-worker and he agreed he'd partner up with me. My original goal was to house hack a multifamily or single family and use my work as a way to get professional and reliable tenants (I am an engineer). I began to realize I do not have the funds to do it on my own within a year but I do still want to get a deal in place for experience. I discussed with my partner and dished the idea that he would come up with the down payment and get the loan and I'd cover closing costs and be the property manager while living in one of the units. We agreed that if the numbers work, my rent would be slim to none thus resulting in my original goal of getting rid of my living expenses as best as I can.

I'd love for anyones input, advice and criticism. I am still very new to this so anything is greatly appreciated!!!!