And there are some great multifamily operators out there and then there are others.

The city operates on a block-by-block basis, and understanding those nuances takes legwork—or working with someone who truly knows the area.

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

It specifically says it is not for real estate investment, but I believe you would be buying an operating business vs just real estate.This is so helpful Michael, thanks so much!  

I will have to go over everything of what I want to do, and then have a talk with her to see if her goals align with mine.

Hi Ricky,Being in operation for 10 years with mid seven figures of assets and NNN leases,it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp  or a C-Corp.It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

Looking to see if anyone has a basic template of an operating agreement for a business partnership of two parties involved in the fix and flipping business?

I made that mistake with a 2 bedroom condo - after 1 year, I had to shut down operations due to HOA rule violations of NO short-term rentals less than 30 days.#8 The 30 day+ rule -  Certain places Airbnb is outlawed or a softer rule is the 30day+ rule.   

., AirBnB) as it will expose your property to bad actors.Law enforcement and the legal system seem to operate quite slowly out there.

I've got a good amount of deals I could probably send him to get the 10k each, assuming they fit his criteria, they don't fit mine.