Lenders and insurers are good mixing a commercial enterprise with a business entity.  

I am going to make the assumption that your intention is to run a legal enterprise and not trying to evade taxes or screw vendors, customers, etc.For most of your questions, the answer is going to be "it depends on what exactly you are going to do."  

I suspect he has discovered how to use other investors' money to improve their properties and make a profit for his enterprises and reinvests the profits into his own projects. 

I've owned many investments but now moving toward a formal structure and business enterprise.  

We can run numbers all day long, but in my professional opinion in both real estate and all other business enterprises, a Partnership should be a Partnership.  

Has anyone dealt with http://enterpriserealtors.com or http://www.buymemphisinvestmentproperties.com?I'm new to BP and "buy and hold"/rental property investing. 

Setting up the CC&R and improving the common areas and units is not a cheap enterprise.  

Raising private capital from investors is a regulated enterprise, and not following the rules and laws that govern the activity can get you into serious legal trouble.

There are certain properties that sit on the market, but that is because there isn't the wiggle room there to make a buck.If you want to be able to really know the answer to this question, you need to learn about your local market.Jason MuenchowCentury 21 Beggins Enterprises 

In a common enterprise?