I have a mentor i've been shadowing for about a year now as well.

Tips for setting up an LLC3.

Quote from @Christian Solis: What business entity should I should I structure my fix and flip business and what are some tips I should should keep in mind so me and my partner are protected ?  

You now don't seem like the type of person most of us would accept a recommendation from.

I'd like to bring him in to assist with the renovation expertise as well as access he has offered to his labor pool.

I believe that the technically correct answer is that they all moved from California to Texas and Florida, whereupon they realized that it gets extremely hot and humid in those places, has extremely variable weather, and large insects, and are now leaving Texas and Florida. 

In the future, either get your Real Estate License so you have access to the MLS, or make friends with a realtor so they can get you comps to get an ARV.  

A 50% LTV on a $120K house at 7%, 30 year Am results in a $400/mo interest payment.The cashflow on your existing duplex goes to $1,000 per month, but now you can buy another just like it so yoru cashflow goes to $2,000 per month.  

Interest rates are NOT high right now.

Everyone says to find properties and build a buyer's list, but neither matter if you can't calculate the repair costs and also get access to a friend or colleague who has MLS so you can do a proper and real ARV (the other part where all wholesalers fail).