Trying to address the needs of a group of individuals located in different states, with varying skill-sets, diverse levels of experience, and distinct (and often unstated) goals and objectives is a recipe for confusion, frustration and stagnation.Rather than combining your interests into a single business entity, I would urge you each to create your own individual entities and then come together, as needed, to take down deals that specifically require collaboration.At very least, I would suggest that, before spending even one minute on legal documents, you all come together as a weekly MasterMind group for a month or two and see how that goes.

Sprout seems to be one that keeps coming up, but after seeing their terms, it seems a little steep. 6.0-7.5% and 2 points, buyer paid comps, and 3 year prepayment penalties (the fees are killer, a higher interest rate is expected).We are in a credit/W-2 income range that doesn't need to settle for subprime rates unless, of course, it is out of a lack of diversity of product. 

Love the diversity. 

Will look to that income to help cover simple living costs (say my cell phone and internet bills).Hope this helps, I'm sure others will have different opinions but that is the beauty of BP, lots of diverse and interesting perspectives!

I really wanted to find a place that was economically diverse and had historically shown market stability.My search led me to Denver, Phoenix, Austin, and Houston.

Always considering own financial status and make a diverse portfolio 

@Jeff Ostreim Are these high cap rates in good markets that have population growth and diverse jobs?

The diversity of responses here is fascinating. 

Few things:- Population growth- Job Growth- Landlord friendliness (aka not California)- Diverse industriesThose 4 things take out much of the country, but still do give quite a few opportunities.Sources include Bureau of Labor Statistics, Census.gov, and other organizations like those.

The public transportation system and the already amazing bike path network is also expanding so that is a good thing to look at to find neighborhoods that are likely to appreciate at a more rapid pace than others.The Colorado market has strong fundamentals overall: diverse and growing job market, active lifestyle, work-life balance, friendly people, the incredible mountains nearby, outdoor sports galore which is skyrocketing in popularity, access to national forests and parks, and significant population growth due to these many positives.