May add more bells and whistles later, but if you have any questions, just lmkSFR Performance Tracker

Cash-flow focused investors are seeing the most success when they scale to a larger sized portfolio so if a property stops performing the others will absorb the costs.

Remember, a good agreement makes a good deal better, but a bad agreement makes a good deal bad.Also, as @Dan Heuschele alluded to, if either of you performs any activities whatsoever while residents of California, the state of California's position is that you will have to register your LLC with the California Secretary of State (even if formed in Texas or some other jurisdiction), file the annual Form 568, and pay the annual $800 tax.Also, by forming an LLC in Texas, you may be subject to the Texas Franchise Tax.So really the only person who can answer the question of whether you need an LLC or some other entity/arrangement is a qualified attorney who thoroughly understands each partner's situation with respect to themselves and each other.If you need a reference to a good one, I have one. 

Sometimes a bad run can happen on 1 or 2 properties so I always stress the importance of building a large portfolio especially when investing in sub $100,000 B or C class properties.The likelihood of 1 or 2 properties being vacant within such a portfolio is quite high so it's vital to own 5-6-7+ properties.While the others are performing, some won't and at the end of the day it will level out the portfolio for a decent cashflow return. 

They are not intended to persuade or influence the readers’ own views.

Additive, they are investing money into homes that are likely immediate performing a value-add component.

Ideally the rental would still do ok in the spring, summer, and fall while performing very well in the winter.I'd love to hear what locations people have chosen, occupancy and rental income by season, and anything else people would like to share about their experience!

The houses are typically brick, 3 bed and ranch style and although there is crime in 38118, it has a strong tenant base and these are some of my better performing houses.

You can also have to scale higher as he performs better or do a certain dollar amount after a milestone is reached.

House hacking a duplex or fourplex can be a fantastic way to start building wealth through real estate while minimizing your housing expenses.To invest in real estate, define your investment goals, research potential markets, network with local investors, analyze properties, consider financing options, and perform due diligence.