Real Estate Investing in Partnership with close friend?

[Ankit Sablok]

Hi all from Bigger Pockets community, I am a newbie real estate investor and just starting out in this domain of real estate investing with the sole aim of achieving financial freedom. In doing so I and my best buddy from college are partnering up to divide the operational cost involved upfront in investing in our first purchase. We both live in different geographies and its a pain point for either of us to travel to a different location all the time when we encounter a deal we are interested in. A little bit of background about ourselves: we both work regular jobs and have a very regular middle class incomes hence we thought partnering up is a good idea to bring in the initial investment and also w.r.t dividing up the profits and sharing the losses if any that we encounter. I want to know the opinion of people in BiggerPockets community on the idea of Real Estate Investing in partnership with their close ones. Personally for me my relations with my bud matter more than the money and I won't like to destroy personal relations at monetary cost. Advantage and disadvantages of this approach from the BP community will help me clear myself out on the entire situation and help me realize my goals with my bud when we look at the long term vision.