Sounds like pro forma ********.

So myself and 2 co-workers who all share a common interest in REI have decided to team up and form a 3 way partnership to help split the duties and financial risks between us.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.California tends to have more laws on the books and requirements and restrictions that it can be a good idea to form a CA LLC for out of state property so that you as a CA resident are covered, and to try to have your contracts fall under the purview of CA courts.

Should I form a LLC in Texas, or TN, CA?

But be careful: for every good one, there are ten who will gladly sell you a bad deal and bless faulty pro-formas.

On my first purchase form a yellow letter i sent the out of state owners a line-by-line rehab estimate with a price for every little thing. 

If you both put up 50% of the money, you're in it together to win it together.There has to be trust, but you can and should hire an attorney to draft up legal documents if you're going to form a partnership.

Although when you look at their pro forma's you will see the numbers are best case scenario and or some things just totally missing

Unless you are planning to do a property turn around, which I advise against for anyone new, only buy based on today's performance and not some pro forma BS.

first of all, this is my first post, i am from argentina, after looking many ways to where to invest my money, i think the only one that i felt confident was purchasing a property in USAi purchased 2 apartments in Miami 2 years ago (115k usd total in that time), in the bottom of prices i think, now they worth 20% more, plus the rent (with a few extra costs, fixes and had to fire a tenant due non payment and pay sheriff stuffs).the process that we do for non united states residents is form a LLC and purchase the properties as a LLC, we paid some extras at the end of year for renew it but its ok.the overall experience was good.but after reading and reading and reading, i became to this great forum, and figured out that could have been even better.i could had purchase a multifamily property, a big one of 400k usd and do a 25% downtime payment with that 100k that i invested. but i think that i couldn't did that because i don't have credit score or history as foreigner.