To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

Although I’ve been investing in real estate, both directly and indirectly for 45+ years, I still get a “queasy” feeling when an investment does not perform as expected.My “aha” moment occurs when we reach the point when, despite the investment problems, we’re able to still show a good/substantial profit at the end of our holding period.  

I would like to see if I can make a small profit, and I want diversification with maybe a 4 plex, or multiple SFH/Condos.

Budget carefully, prioritize high-ROI renovations, and adhere to strict timelines to maximize profitability.

.: I am trying to learn and understand... someone told me that its not just size of the home or level of the flip that determines profit, and that in some markets, what is considered a typical profit is 300k based on the 70% ARV formula.

Your guest is your priority, not your profit.

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@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.

When Columbus sailed, there cities were old and had long addressed housing issues generations before. 

But tuned out to be a pretty nice profit deal for us about 650 to 700k net in less than a year.the lady got her home back free and clear and I told her do not Borrow against it ever again her kids had forced her into last time and of course took the money themselves.