Buying apartment complexes will help you to get where you are going much quicker. 

The condition we typically use allows for a concession of 3-months scheduled rent if a unit becomes vacant between the acceptance of our offer and Close.That said, when you collect estoppels during diligence, most "irregularities" between information supplied by the Vendor and the tenants' views will be exposed and you can simply negotiate a resolution at that time.

It is hard for me to walk away from a cash-flowing property but I also feel that I may be missing out on an opportunity to make some cash to invest in more things quicker.

I expect to get quicker as I gain more experience.

It says that in order to get ahead in the Real Estate game and be able to scale quicker than just by saving new deposits every time, you should look at paying no more than 70% what sold comps are going for - and that includes your anticipated rehab and holding costs before renting it out (or selling it).

Good thing is I didn't put down earnest money because instead of a contract, the city gave me "resolution", approval on my offer although I have expenses such as attorney and title report fees.

This way your money is tied up for a long period of time and you can recycle that cash quicker and scale quicker...Just a thought.All the best to you,Jorge

NOTE: The signatures of the parties above apply only to the agreement of the parties to alternate dispute resolution initiated by the contractor.

I have even helped them if two guys can tackle a smal task much quicker than one (pulling wire, testing things etc).I have found there is no trick, hire good people, and try to keep them happy.

Here are few basics : % of ownershipsDispute resolution, etcDeath/Disability of a partnerProfit/Loss allocation and capital contributionI would recommend consulting a good attorney to get a list of things that you and your buddy need to discuss and have a framework to draft an operating agreement.