Hi Michael, Ive just bought 2 duplexes in Detroit and im going to post here how its going on a more regular basis.

I am looking in the Bryson City, NC area as it has a lot of outdoor adventure opportunities, and seems to be a more reasonable price point than some of the other towns around the Smokies.

I just finished up a light rehab on a rental and now looking for contractors for my third project, a more involved rehab on a duplex. 

I opted for a more complicated approach which requires a developer and never ending modifications which I anticipated -- yet frustrating at times.   

I think you may want to start of the arrangement in a more simple fashion.Ask for a loan in which he will get a stated return 6% to 12%.If you are both successful happy with this arrangement, upgrade to a partnership.I think a partnership off the bat makes things complicated.You will also likely make more money in a loan agreement if the project does well.

They are experts in the local market, staying up-to-date with trends, property values, and legal regulations.On the other hand, wholesalers take a more entrepreneurial approach to the real estate market.

I'm currently using hospitable but am looking at this thread and doing research on a more complete PMS as we scale.

Based on my understanding of the Customer functionality in Quickbooks, I agree that for real estate investors who might want a more cost effective option can utilize the Customer features (available in the Simple Start and Essentials version) instead of classes.

That being said someone with 5 years experience may be a more effective than someone with 20 just like someone with 5 doors might be outperforming someone with 20 doors, but it does give you a reading to the range of problems they have likely seen before.

It gives you perhaps a more thorough view of the type of person they are.