Forming an alliance to buy an apartment complex

[Angela Jossy]

I have been trying to figure out how to get started and do my first deal. Househacking was my main focus but in the process of investigating that something happened. A friend of mine flipped a house her parents had been renting to a family friend and now she sold it and has money to reinvest. She was thinking of doing another flip but I showed her this triplex in her neighborhood and she put in an offer to buy and hold it but the seller took it off the market. Now she's got the itch like me but unlike me she has a lot of cash. 

I also have a relative that is going to sell her house and move in with another relative so she will soon have money she could invest. Would it be a good idea to pitch the idea to them that we all go in together and buy an apartment complex? How would the proceeds be divided? Should everyone buy and hold together or should I do a BRRR strategy and buy them out when I refinance? Have any of you ever tried this kind of deal before? Is it too complicated for a newbie investor? (I am an experienced property manager of a 49 unit tax credit building).