You need to observe what works in other areas, where others came up with great ideas and then follow suit in your area.  

Would be interested to hear your observations.

I am located in South Florida, where real estate is grossly over priced based on my observations. 

IE those of us that acutally buy things.. the rest are there observing and trying to figure it out.I would buy 2 or 3 homes in a day and folks would come up to me and start asking me all the usual questions..

You will be able to get all the right observation and the details about the select market and location.

In determining whether the company is the alter ego of the individual, Ohio courts consider the following factors:(1) grossly inadequate capitalization, (2) failure to observe corporate formalities, (3) insolvency of the debtor corporation at the time the debt is incurred, (4) shareholders holding themselves out as personally liable for certain corporate obligations, (5) diversion of funds or other property of the company property for personal use, (6) absence of corporate records, and (7) the fact that the corporation was a mere facade for the operations of the dominant shareholder(s).The Ohio Supreme Court has recently revisited the Belvedere test in Dombroski v.

kind of an interesting and exciting feeling because I feel I am becoming more aware just through listening and reading about Investing, its an amazing feeling none-the-less...Anyhow on my way back from work one day I am observing the houses in my neighborhood and notice one that looks vacant, like grass-3-ft-tall-and-vines-growing-up the-sides-vacant..

Although this partnership is a good fit on paper, I would highly recommend that one's partnership somewhat compliment your personal investing style.Sometimes, that polar opposite creates a good balance; but also it challenges.I am providing this post mostly to share my personal observations and also, because there are equally as many request seeking partnerships and funding.For those individuals, I submit that that partnerships with colleagues, family and friend inherently involved possible nuisances in operating style, priorities, and realistic timeframes on the amount and division on your net return of investment.In summary, think, plan and have those discussions prior to forming your partnership, funding etc...these are just my thoughts in hindsight.

I appreciate the questions pointers and they actually  confirmed my observations.  

@Mehul Mehta, @Azam Khan - one observation is that you should not be limiting your focus strictly on single family.Have you thought about getting the economies of scale and investing in multifamily (apartments) via a syndication?