As such, it is good to ascertain tangible goals and time frames, investment objectives, and so on for the partnership BEFORE it's formation and incorporation.3) If you form a partnership - CRITICAL - insure that you have a dissolution agreement in place BEFORE you incorporate, as part of the incorporation documents. 

( Or 3) It's critical to have a SOLID understanding of what your prospect is worth so you actually end up profitable.

Options have their place and I don't mean to sound critical of an installment contract either with a commercial deal that stays away from Dodd-Frank, both can work very well.

A summary of the changes can be found here:SEC Staff Recommends Updates to Accredited Investor DefinitionWhat's good:You can now take a test to qualify under the proposed rulesThere seems to be some critical thinking about the thresholds and indexing them to inflation instead of picking an arbitrary number and leaving it staticThere seems to be some critical thinking about who can invest whatThose with experience in private deals can exempt outWhat's bad:It seems hard for portals or funding platforms to implementWealthy investors are capped unless they make over $500k annually or have $2.5M in net worth

And to do this, good location is more critical factor than price of buying?

CA is a boom-bust state and where one buys in the cycle is critical.

I am looking for any and all advice, tips, ideas, criticism, or help I can get.

This also lets you "cash out" some of the forced equity while recouping at least some of your cash investment (rehab, holding costs, closing costs).The 2 critical keys are 1.

I am in Utah and was wondering what critical things I need to have in place before starting. 1: I have heard about starting an LLC, is this the first thing recommended before starting the investment process?

But potential to command high rents, as well as appreciation depend critically (as you know) on location within Madison.