Nice to meet all of you and looking forward to expanding our skillsets collectively!

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

Hello Satish- the greater Banner Elk area does have a lot going for it and the right property should provide you excellent income and a potential nice getaway spot. 

Hi @Mason Weiss,Thanks for the compliment on my research, it's nice to have some open dialogue with someone familiar with the Phoenix market!

Have a nice day.LNo problem at all Lisa.

Unrealized equity is nice, but doesn't really do much for you except make you feel good when you tell someone how much equity you have.

As for the zip code you mentioned, some of the areas in there are nice due to steady rental demand, you just want to be very careful on the neighborhoods you select as some areas will be better than others.

I paid for the subscription for a few months and drew my own custom Google maps areas and color coded them red/yellow/green based on a "grade" I felt came from a few metrics like crime/average household income/etcI also really like realtors dot com new maps, if you search for an address and click on the map and then go to the top left and choose the Value slider it will give you a nice color coded map of which areas of a neighborhood are higher valued.

We identified it on the MLS with it's low asking price and nice aesthetics.

Not necessarily i could do the 20% down for the right place, but less than 20% would be nice, I’ve been saving for this situation.