Make sure that you each have umbrella insurance of at least $2mm.Recognize up front that partnerships often result in frustration and remorse due to inequities in work performed (that is not property recognized in the operating agreement), differences in opinion on how to grow the business (take distributions versus plow all profits back in), etc.

We are currently renting a home and want to buy our first investment property.I have been listening to several BP podcast and I'm learning that picking one route and sticking to it has proven to be successful.

Being that I'm a full time student and my income cannot be proven because it's all from trading, would it be reasonable for me to take out a HML for 6/12 months, and either come up with the rehab capital myself or use another investors help for rehab, and as an exit strategy tell my HML I plan to rehab and then cash out refinance to pay them off as my other investor and then rent out the property for the cash flow a use any excess funds for further investment?

I'd start with your target property and then recognize what your ideal tenant is looking for in a rental.

Recognizing it will take some skill to accomplish that, my original posting is how best to start developing that skill.

Without a track record, they tend to want a big down payment and have fairly aggressive terms.I suspect, as with any business or finance relationship, if you have a proven track record, you can structure better deals.As far as approaching private lenders, I would start by Googling.

Frankly, that requires a business head, not so much in RE..This is true, it was not explained and could not possibly in an hour long interview podcast, so it needs to be recognized for what it was and what it was for, an intro to Ken and how he became successful, what he does and what he looks for.

This is the Target (store) dog. lol Then you have this "breed" out now called the American Pit Bull Terrier, which is not recognized by the AKC, because I have not seen it in their list of breeds.

I did a quick look, and did not see that they had a posting on Craigslist or the Lantern (or I didn't recognize it), which suggests they are limiting their search to friends.

Undervalued stocks should not exist because other investors should recognize their bargain prices, buy them up, drive up the prices, and no longer are they undervalued.