In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

So at the moment, if you buy a property now and operate it as a 30 day rental, owners are not having any problems with the gov't.  

It's a job. 

(+1 sub)speaking of uncut gems. it's interesting that was the movie you were going to watch, given your situation. can't really compare RE to gsmbling, but the guy had heart and wouldn't give up for nothing. great job on persevering thru this storm! 

To structure a partnership, consider forming an LLC where you handle property management, renovations, and operations, while the investor provides the down payment.

In my day job I’m an ops professional who manages a tech stack and efficiency is important.

I've never really done a deep dive in analyzing the area because it is a retirement community, median income is very low, and there arent a lot of jobs in the area.

If you’re using leverage, be extra cautious with your underwriting to ensure the deal still works at today’s rates.Economic Uncertainty: Inflation, potential recessions, or shifts in demand could affect rents, vacancy rates, and property values in some markets.Increased Operating Costs: Rising insurance premiums, property taxes, and maintenance costs can cut into profit margins, particularly for buy-and-hold investments.Regulatory Risks: Some areas are increasing restrictions on landlords, particularly short-term rentals.

There are plenty of varying job opportunities in the real estate industry.Ask yourself: What skills do you have?

NAR considered job growth, financing, renter who plan to purchase a home, migration to these metro markets, number of renters who are planning to buy as well as homeowners who plan to move.