Additionally, an LLC can make it easier to separate personal and business finances, simplifying tax filings.Quick Tip: Work with a tax advisor to determine whether an LLC is the right structure for your investments.4.

The lower barrier to entry would be excellent for my personally smaller net worth.

Without any form of credible references this person may care less about you and are only interested in the sale, which would be your problem after.

To establish a 50-50 ownership in both the property and future profits, you'll need a formal agreement outlining each person's contributions and rights.

Many are personal friends of mine living just 40 minutes south here in San Diego. 

Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

Investors want a person that they consider a good "business partner", but most of the wholesalers I see come of as borderline crimnals.

I’ve met most of my partners through in-person events because it’s easier to get a feel for someone’s personality and long-term vision.

Do you own a personal residence yet?

best of luck. make sure you are speaking to a knowledgeable person in your area as you might be getting false information