My partner and I have built over 70 new homes in Florida. My partner is an experienced home builder with 40 years of experience, however we recently moved to TN and he is not interested in getting his TN GC license. I...

The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

I generally tell people to stay away from these guru groups and courses as well.

You're essentially buying into a partnership with your friend with the partnership owning and operating the property.Now, the financial side of that gets more complicated and would generally include an advanced proforma/financial model that includes a GP/LP equity waterfall schedule that is based on how you and your friend agree that you will pay her and also share the profits.I assume that won't make sense to you right now, but I'll send you a DM.

I'm a project manager that serves as a general contractor for real estate professionals.

I am a complete newbie to house hacking, real estate investing, and real estate in general.

You generally need to refinance a portfolio when you deal with these low priced properties. 

Credit score- the higher the best. 760-780+ generally gets best pricing for investment property loans with most lenders.

I’m fairly new to the BP forums and BP site in general, But I have been very active on the podcasts and books stacking education and knowledge in the real estate field. 

It would be of mutual interest particularly when I report this mess to the Attorney General of Arizona.