. -- lots of factors to consider (including your personal strategy), but here are a few high level metrics to compare the most populous zip codes in HuntsvilleWelcome to drop me a message if you are interested in checking out the full report 

Then, each person with money in the deal would get an 8% preferred dividend until they get all of their money back.

This is one of the best personal finance calculators I have seen. https://docs.google.com/spreadsheets/d/1oC4gdK5gXIPjyEFTgo3g...

Plus say another 4 feet with the person standing. 

You might be able to get around the fact your entity owns the property by either transferring the property back into your personal name or by some personal guarantee or cross-collaterization agreement.

If you and another person own a piece of real estate as tenants in common then you both own real estate. 

I have personally been the guy who hasn't pulled permits and got caught...by far one of the worst experiences of my investing career.

I’m not convinced it makes a real difference unless a person has a unique setting.

Do you have a personal connection to either of those cities/markets?

Also, you don’t need a business license just to look at properties, but if you buy a bigger property, like a multi-family unit, you might need a certificate of occupancy, depending on the local rules.For business trips, most expenses can be deductible, but if it’s part personal and part business, you can only deduct the business portion.