Partnering with a Colleague on Buy/Rehab/Hold in Houston

[Jordan Decuir]

A colleague from work and I are interested in partnering up to build a rental portfolio. Our model will essentially be purchasing 3/2 SFR's at a discount, do some rehab, then lease them out as part of a buy/rehab/hold strategy. Does anyone have anything to share, advice to give, or interesting stories around partnering up with a colleague? Also, what is the best way to structure the ownership of each property?

Any and all input is welcome.