When it comes to establishing a partnership and creating liability protection I can lay out a "functional" option that works and an "ideal" option that often costs more, but also provides more security.Functionally you can use the current LLC and have an attorney draft up an operational agreement that lines up the desired roles of the partners and how they get paid out.

To really get the best value I would recommend looking for a house that is already "livable" and will not cause you any issues with financing, but has some outdated fixtures and finishes (picture something like a little old lady's house, with green carpeting from the 1970s and old but functional fixtures throughout).

If you have an irrigation system make sure it is functional with no busted heads.  

They shot down the zoning change even though the property had been functioning as a duplex for a long time.

I used my nose and rented to them, they seemed very high functioning people.

I do realize that many have made decent money at the very low end of the market, but that takes quite a strong stomach, and I believe also was a function of particular market conditions which aren't likely to exist again any time soon (IE these properties got absolutely crushed in the downturn of a decade ago and were picked up for a song.

The search function has been added back into the new app, along with the Newest Forum posts. 

Of course this is also a function of us avoiding a direct hit from a major hurricane...

Explain that your function in the real estate investment cycle is to spend a lot of time and energy to market to potential sellers, weed through the valid prospects, successfully negotiate the price, and market to find an end C Buyer.

You walk the house and the foundation, electrical and plumbing all seem to be functioning properly.