I realize we’d probably want to bring in a real estate attorney, but I’m assuming there are models in place that are probably well-established for such a partnership that I know nothing about.

Largely, the appreciation in housing prices is coming from both new migrants and investors coming from the East (GTA) as well as international countries (predominately from the middle east).We are also seeing drastic increases in the rental rates which in turn are pushing investment property prices up as well.

Lower returns are an issue as well. 

Could you send a few scans for me as well?

Price range seems to be so fluid from what I'm seeing - as I'm sure you well know this but a home in one town might be $20,000/$30,000 variation in another.

Hey Themis - I used a similar strategy in my first year investing in Cleveland, focusing on the BRRRR method with SFRs, and it worked well.

Ran into many problems with contractors along the way, paid for some material twice as well as some projects to be redone.

Obviously, their capital gains are well beyond the $500k primary residence exemption. 

Different areas have different metrics that decide how well they are doing.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside.