This has created a "shared driveway" with the neighbor making an ugly curb appeal, not to mention cutting their lot in half.

This was also not mentioned until today. 

All of what you mention can be done easily with Podio configured for REI CRM. 

You may want to make an introduction between your CPA to those 2 colleagues.The CPA can go over their services and pricing to your colleagues.I partner with many people on real estate deals - It never gets to a discussion on whether they do their own tax return or hire a professional.If a partner mentions he will provide capital - does he provide the capital on a timely manner.If a partner mentions he will find deals - does he find many deals and provide an analysisIf a partner mentions he will manage a property - does he manage the property well(find tenants, collect rent, communicate with contractors, etc)

There are no restrictions preventing out-of-state investors from purchasing rental properties in Texas—these investors enjoy the same opportunities as Texas residents.Additionally, the financing restrictions you mentioned don’t align with reality.

I have heard the name of one of the founders mentioned in the past and they had a good reputation.

All groups have mentioned, wanting to try our hand at flipping independently, and I thought why not do it together. 

He has been alongside me on the other deals so I’d like to give him equity/skin in the game and I don’t know how else to do itQuote from @Basit Siddiqi: Getting a property with a partner / friend will not help you from getting hosed on taxes.I wouldn't move forward - You mentioned beng a high income earner so your hourly rate is very high.

Being that rates are up it's another way to offer exatly what you mentioned; the chance to own for a couple hundred bucks more than renting.Thoughts?

Did they mention when distributions will resume?