If your partner is not bringing in money nor is being an active asset manager I don’t see why you would want to get him onboard but if you do need to then you already have a leverage over him and ask for 60:40 in your favor and may be agree on 50:50 as you negotiate.But if your private money source is an equity partner then typically you should get an acquisition fee from them (you may also get this fees from debt partners as the acquisition fees will be part of your acquisition costs again anything can be negotiated ) but then they would get/expect something like 70:30 or 60:40 split depending on the money they put in the deal.

It was a small driveway and I can't remember if only one car would fit on it or two passenger cars would, but it was tight. 

I would like to build a portfolio which can help get me out of the rat race Recently it dawned on me how much of my cash flow goes to pay my mortgage and after reading Rich Dad Poor Dad and learning about the mindset of my home actually being a liability rather than an asset if it's not providing some income, my goal is to sell my home and move into an owner occupied rental property to immediately increase my cash flow for other investment opportunities.I just joined NHREIA in December and now I'm getting my wife on board with the idea of getting into a 2 or 3 family or even a single family with an in law that we can rent out at a bear minimum.I would love to get connected to people locally and if anyone has properties they are selling that fits my definitely im all ears.thanks everyone and good to meet you!

Since they've been good folks and are discussing the issue ahead of time with you, I would let them out with 30 day notice but hold them responsible for prorated rent until the next tenant comes on board.

It's great to have you on board.  

I agree it is very important that spouses are on board. 

What's your pitch to your Realtors to get them on board.

He wants to see how I handle my first project and then decide whether or not he wants to bring me on board to help him with the development.So I got my private lenders and the potential for a really cool project down the line.

Only if grandfather were on board to sell the property and lender me the proceeds under favorable terms to buy property in my local market.

I would seek to have a good one on board, just in case.