Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

These are extreme examples used for illustration purposes.

What’s your biggest concern right now?

If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.  

Hey @Trevor McCormick (and @Fab Ragh) - as many have stated, Kissimmee and the Orlando market in general are extremely competitive.

Like @Pat Aboukhaled already mentioned, he’s extremely responsive and has excellent market knowledge.

And end of year actuals never pencil out like the spreadsheet...I'm not saying that it's a bad idea; I would just urge you to proceed with extreme caution.

If I put myself in the shoes of the outside partner/investor friend, I would be very concerned because: 1) unclear and/or potentially conflicting business plan, 2) even with clarity in the BRRRR business plan, unclear in the viability of pulling it off with these market conditions, 3) the chances of dispute seems very high, especially if you're going to live in. 4 years ago, I went through a  similar thought process when purchasing an investing property with mainly my family money, while considering an outside investor to rehab for higher STR ROI... 

And CA is extremely tenant friendly so it's not a great place for a rental. 

I'm more concerned on if it's going to be a good deal or not.