I've virtually met his partner but otherwise, he isn't engaged. 

I knew it wasn't going to be forever, and it wasn't as I eventually got engaged and moved in with my finance (now wife) and I now rent out that entire duplex for cash flow.The equity on top of it is something I tap into regularly for my flipping business. 

We are first telling close family tat we are talking about putting deals together and will be engaging an attorney soon to better understand the legal considerations.

So many engage in different methods that I’d love to hear their input on what they found that worked best for them.

Been driving for dollars lately and realized the need to have the documentation ready in case an owner is willing to engage.

The highest predictors of goal achievement are the 80/20 activities that are identified and codified into individual actions and tracked fanatically.Discipline 3: Keep a Compelling ScoreboardPeople and teams play differently when they are keeping score, and the right kind of scoreboards motivate the players to win.Discipline 4: Create a Cadence of AccountabilityEach team engages in a simple weekly process that highlights successes, analyzes failures, and course-corrects as necessary, creating the ultimate performance-management system.One of the keys to a successful remote work structure is excellent communication.

I have tried to engage them as investment partners and shareholders in the property, but they do not share my long term vision of creating a legacy for our own heirs.

Appraisal (if the appraisal that your lender engages (the only one the lender will base your mortgage on) comes in less than the offer price, the seller can reduce his price to the appraised value and all continues on - or you can walk with the return of your escrow; if the seller won't budge and you still want to buy it, you would have to pay the difference between the offer price and appraisal at closing).3. 

I'm really looking forward to learning more and engaging in the community. 

You will need team for these things and good way to do that is by being engaged  in meetups and BiggerPockets.