And, during one of my many questioning sessions he stopped me and asked if I might be able to pull a deal together.After getting a base understanding of the situation, I informed him that to make this deal work, I would need the seller to carry the down payment and/or consider playing in the potential profits after the fix & flip.

Since then they’ve bought a couple houses and become engaged.

@Linda FordThe decision to make a C or an S election is a calculus that you should definitely engage a tax CPA/EA for.There are qualitative and long-term quantitative factors as well. 

Overall, we are looking to engage with fellow investors seeking to expand their portfolio, all while assisting a new venture.We have an adequate team around us to provide resources concerning our renovations (plumber, landscaper, flooring, electrician, etc.).

Great way to advertise as well as engage with the tenant base. 

I regularly come to California several times a year on speaking engagements so we can connect there when I'm in town, or if you are going to be coming to Montgomery I'd be glad to show you around. 

If he will be utilized to check the health of the association, bylaws, etc, you can anticipate a bill of in excess of $3000Experienced investors have offer forms they fill out themselves, but unless the state has a promulgated contract, you will be foolish not to engage legal counsel.

I only engage and structure win-win situations my guy!

A lot of questions here...As your dad has a 50% interest, and a trust owns the other 50% of which you and your two siblings are the sole beneficiaries (I presume), it might be advisable to, after the trust interest is distributed, to have your father, you, and your siblings contribute your interests to an LLC in exchange for shares of the LLC (usually called "units").The property would be re-titled in the name of the LLC and the LLC can use it as collateral for a loan.It's usually highly advisable to engage an attorney to draft an operating agreement in this scenario to get everyone on the same page about ownership interest, who is/are the managing member(s), what happens when someone wants to sell -- do the existing members get 'right of first refusal', what happens if a member passes away, etc.

Most the pretty wealthy dudes I know have money managers so they usually lay you off to them. but I do know some other that would engage on the phone.. but they are not billionaires more in the 25 to 50 mil range. and self made entrepreneurs