Tell them what you are doing, ask them how long it takes them to close, and that you plan to do several transactions and want to form a relationship with a professional title company.Right now with inventory being down and the market still at a slower pace, it should be easy to form a great relationship with a title company.LanceTurris Group LLC

Hang out and make some friends there... once you find someone with more experience than you that you like and trust, form a partnership for a few deals. 

You probably don't need to start forming any LLCs until you actually have some property, but it is best to form a separate LLC for each property and then form a separate LLC for your holding company.

Over a 12 month period, using historic and pro forma numbers, does the aggregate cash flow from your assets cover that aggregate liability payment by at least 1.2 times i.e. for every dollar of debt payments annually you have at least $1.20 in incoming cash flow?

These numbers are high because I provided nearly all of the labor and they were both bought at auction and seriously under valued.My pro-forma going forward is build on a projected 23% ROI with which I will be very satisfied.

What are the correct steps to form a partnership on a single transaction.

They require an appraiser to determine the value of the property, so for the most part a fancy packet won't matter much.If your first property is a larger commercial buy-and-hold, having a packet including pro-forma and personal experience would be helpful.Can you elaborate on the kind of property and what type of bank/loan you're looking for?

Make certain to include ALL operating expenses in your pro forma including taxes, insurance, utilities, maintenance, reserves, management (if not self managing), municipality rental registration fees (if applicable) and as accurate of a vacancy factor as possible.

Don't form a partnership unless you have detailed and extensive operating agreement covering all contingencies and strictly designating all possibilities and exit strategys.

I verbally told her (while distracted on some other matter) that I did not mind as long as there was no insurance issues (meaning that she was insured and took 100% responsibility of any injury in the house as also stated in the contract).Today she called me to ask if I need to see the income of her friend (what I think is her business partner) since she will be helping her out to take care of the kids...To summarize the post... my concern is that (all that not informed directly) they are attempting to form a Daycare at the house and I informed that before they move forward with their plans.