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

Personally (as a STR-focused REALTOR), I would never give you numbers and tell you you can hit them. 

I would be happy to discuss structure and feasibility as well as insight into my personal finances/personal stake into a deal with serious lenders/prospects.Even if you are reading this post and are not a lender but have valuable insight or experience with flips in Charlotte's market, please don't hesitate reaching out.

He's a terrible person.

Hey @Mordechai Chaimovitz - It sounds like you are talking about Chicago's NW side because there are definitely tons of areas in Chicago where a 2 flat can cashflow well.I know for me buying on the nw side was critical to my personal well-being and life happiness. 

If you're more of a 'personal referral' person than a 'do research online' person, and this is local to you in Manhattan, KS, hit up one or two of the trades people in the "little apple all stars" BNI group.

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

Looking forward to meeting you all virtually sometime, or in person on a visit to PT. 

If one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title. 

I've done this personally and have helped a bunch of other investors do the same.