Main thing for you is: - Have both you and your buddy talk to the same lender and get pre-approved to understand down payment options and what your combined budget would be- Decide how you want title held (joint tenancy or tenants in common) - do a google search on this to see which option is best for you guys- START SHOPPING!

Hello, My husband and I are starting a property management company in the Jupiter, FL area. We have one owner and one tenant so far and we are currently setting up Buildium. I am just curious how most structure their ...

Joint Ventured with a few partners to get this done.

Some investors I talked to are doing MTRs and STRs (this seems challenging with competing with all the other AirBnbs in CA), some are trying to do a Joint Venture and buy multi-family. 

Most of my tenants just do an ACH payment through their bank.

I din't have enough capital to start on my own, so I partnered up and did a few joint ventures, sprinkled in some seller financing, and then syndicated a couple of deals, only to return to joint ventures.Pick a strategy, then a market, then start to network with all the brokers in the market. $400k is plenty to get started.Gino

You do not need a  mentor program, see if you can attend a  few meetups and then do a Joint Venture or equity deal with one of the investors there  and start from there.

Yes, you can file jointly if you or your spouse qualify as a Real Estate Professional (RE Pro) and share the benefits.To qualify as an RE Pro you must:1.

While not in TN specifically, I have assisted clients do as you have described: live in a property as a principal residence for 2 years, rent it out for 3 years, then sell.Based on the situation described, you would appear to be eligible for the MFJ joint exclusion on principle residence on your 90% share.However, in order to retain that ability, the house will very likely need to be sold (ie, sale closed, not just under contract) by the end of this month. 

I did it by househacking 2 multifamily and joint venturing on about 20 units of commercial multifamily.