If they are poorly qualified, let them know now that they don't meet requirements. 

Now this Jan 1st another slew that pressed the bar of standards and requirements even higher. 

My favorite way to find a mentor was to look on Zillow for houses for rent in your area and then click on the ones that are 'for rent by owner' then call them and introduce yourself as an investor in the area who is looking to meet new investors. 

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I’m hoping to purchase a few properties with a friend/business partner but after meeting with a lawyer am even more confused.

A few months ago I started attending a local investors meeting and have become obsessed with learning about real estate wholesaling.

I spent months reading, browsing forums and meeting with other investors to prepare.

As long as the ADU is under 900 sq. ft. and meets the state building code, there will be no variance or special permit needed, so no ZBA or neighborhood meetings.

@Serge Hounkponou Recommend you first figure out the property Class you want to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A formal business built on this seems overkill as you’re essentially paying someone for a service that already has standard model.If you and the parnter have distinct business tasks/abilities (i.e. not what you would hire an agent or contractor for), such as off-market lead generation, that’s a different discussion.