Recommendations for books for partnership and drafting proposal for prospect Real estate partner

@Brandon Wade: I wouldn't let the short sale deter you if everything else makes sense.

I'm a prospective investor and hoping to enter the multifamily space in the near future.

I also live in a very difficult market for cash flow, yet I know it very well and appreciation prospects are very good.

With this said, it's looking less and less possible to go the FHA route and have the following possible conclusions:Multifamily property values are reaching their peek (at least in my prospective markets; surrounding the Chicago MSA)Investment properties on the MLS suck (lack of a better word)Finding a property that works via FHA route is a diamond in the roughOverall, what do you guys think or recommend?

What do you use for criminal background checks and credit checks for screening prospective tenants? 

If it is negative cash flow and no good prospect of improving, why keep it?

Basically it is to deter long distance investors from buying a place and then becoming an absentee landlord...One option many use in this area is to register a tenant as the acting agent.Not the best move from a liability perspective for you, however it’s inexpensive and frequently done in college towns.Your other option is to work with a property management company, which is what the borough would like all landlords to do.

I walk a rental prospect in 15 min and know wht it will take to fix.- If you are financing, say NO FINANCING contingency. 

Currentlywhen speaking with prospecting sellers they are okay with everything until they see my LLC name on contract or see I am out of state.