Periodic site visits.

@Tyler Case you would need to be in a deal for the long term on a rental where you have a 3-5 year hold period.

Do you know if their payment issues are from them choosing to pay or if their pay-periods are more sporadic and just don't line up well with the rent being due? 

Think about how many times during that period of recovery there are CAPEX, or vacancy, etc... 

Seeking advice on how to formalize an agreement with a partner to flip a house together and how to hold title assuming that we would not be creating an LLC until after a "trial period".

I personally learned by trial and error as you suggested, but it took years to get any traction and I could have definitely been way ahead if I have leveraged the ability to learn from others who had successfully made it before me.

When I explained that i was an investor, with some brokers it became very clear we wouldn't be a good fit --- the broker just wanted agents that would close deals, lots of deals, period. 

And a refinance in the future is likely (our government can't manage the country with high rates for extended periods). 

HELOC rates are fixed only for a certain period of time and then adjust on a monthly basis.

That way you can bypass a bridge loan.I have borrowed $50k from my father to float some of the purchase of a Dental practice my wife owns...we simply pay into an account that we use to periodically pay him back lumps sums.