I have saved and organized electronically all receipts for expenses as well as improvements on the property. 

I have no doubt he can teach people how to do Burrrs and flips that are very profitable but of such low quality that it puts a stain on the industry.

We leverage Airdna and Airbtics data and I personally recomend looking at every data source humanly possible and plugging in your best estimates for conservative, ok, good, and best as well as your best possible estimates for expenses in order to really get a firm grasp of the potential profit. 

We held it for a little over two years with tenants in place for about 15 months and then sold for a profit.

BiggerPockets (BP) does have some tools and templates that can help keep you organized (like checklists for inspections, title, and earnest money).

Spell out the complete agreement of how expenses, profits (or losses), and other responsibilities are to be split—put everything in writing.Do a background check on the partner to confirm there are no outstanding liens, judgments, or active lawsuits against them.Hope these suggestions help.

You’ll also want the last 12-24 months of profit and loss statements and bank statements to verify income and expenses.

The problems are with the inexperienced under capitalized people studying wholesaling strategies as put forth by a variety of guru/mentors and the temptation these people feel when they smell a profit.   

The STR loophole can offset your active income via accelerated depreciation with a cost segregation study, but ensure the property is profitable as an STR, with LTR as a backup.

I’m just getting started with my 1st and hoping to use the available resources to help with organization & efficiency.