Looking for capital partner on cash flowing property

[Steven J.]

A little about me: I'm hoping to secure my first rental in Moorhead, MN (think Fargo) and I'm needing partners to help finance the deals I'm coming across. I don't have the capital but I can bring my knowledge of the market, the renters, and networking to the table as well as be the manager for the property.

My goals are to find buy and holds to acquire passive income on properties in a stable and growing market. Fargo/Moorhead offers such a market with 3 colleges in the area plus manufacturing and medical business being a large component of the work force here. As I'm hunting for my first deal and partners I'm looking specifically for cash flowing deals that provide at least $100/door with conservative numbers in place.

My needs: I need a partner willing to provide capital for investment opportunities. I would prefer a partner willing to share their experiences and wisdom. If I sound like someone you're willing to talk to I'd love to hear from you.

My offers: I am able to provide hands on work, managing the property, insight into the area, and future deals as they become available and work out for others' criteria.
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The deal: Very basically, I have knowledge of a duplex that has been converted to a single family. It has been recently updated and rehabbed to a degree and is located one street from Concordia College. Tenants would be college students. No need to change to duplex.

Asking price is $119,000 and pre-reno income was $1200/month. This unit could pull at least $1500 as of now. Using the BP calculators and conservative numbers I manage to cash flow at least $200/month using the $1200 figure. Currently, with a 20% down payment at the asking price just over $31k is needed for the purchase of this property.

I hope to hear from many of you.