If I put myself in the shoes of the outside partner/investor friend, I would be very concerned because: 1) unclear and/or potentially conflicting business plan, 2) even with clarity in the BRRRR business plan, unclear in the viability of pulling it off with these market conditions, 3) the chances of dispute seems very high, especially if you're going to live in. 4 years ago, I went through a  similar thought process when purchasing an investing property with mainly my family money, while considering an outside investor to rehab for higher STR ROI... 

Assuming you could take out a couple 100k you would have the buying power to start a cash recycling business (brrring or flipping).

We currently accept rent from tenants using a variety of 3rd party apps-Cashapp, Venmo, Zelle but are moving away from accepting payments in our individual names and want to start accepting payments directly to the LLC/business accounts, but LLC accounts do not accept Zelle and there is a fee for using business accounts on Venmo.

Now most of my deals are a combination of our business money, bank money, hard money, and private money.  

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

Easy sign up for a sole proprietor.I think new flippers are consumers & don't understand a business mindset.

Thats why you see lack of ADA compliance in small businesses.  

Once you hit a certain number of loans (check with your state dept of banking and finance or dept of business regulation), they might require you to have a license.

An annual business tax as a hotel of $50 and collection and remittance of transient occupancy tax of 12% from renters is required of all short-term vacation rental operators.

@Avani PatelFor my flipping business, I prefer to use fewer software programs to streamline things.