Flipping and Renting with Parents

[Chandra Mcculloch]

Fix and Flip vs Rental Property

My husband and I want to get into flipping properties in our area and eventually having rentals as passive income. My parents want to add more rentals to their portfolio. I've been thinking about a way to make this work for both of us  They have quick access to the cash, but don't have the time or resources to fix up properties, we do. We own a roofing company and have plenty of contacts for labor and can do quite a bit of work ourselves, but don't want to put up the cash if we don't have to. I found a property that needs work but would be a good rental investment. What is a good way of proposing a partnership with them? I don't want to do just the construction on the property if that's the case we will just buy the property ourselves and fix and sell.  Would love to hear what others would do.
Thanks!