Hi @Kenzer Hodgson to @Sarah Kensinger's point above, I'm not a fan of so many people spreading legal advice/insight on the forums, but at least it's better than Instagram/Facebook and YouTube. 

This is not tax or legal advice, just what I personally do, consult your professionals! 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

I am too lazy to look it up, but pretty sure it is legal.

Honestly, I would not sign any lease until you positively close and legally own the property.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

Check out Every Landlord's Legal Guide by NOLO.

Hi Krista, Yes you need a broker's license to legally manage property that you do not own in CO.

To attract investors, offer incentives like high cash flow potential and tax benefits, and structure the deal with clear legal terms and contingencies to minimize risk.Good luck!

In any contract you don't typically need a clause saying what you CAN do, its assumed you can do anything legally allowed as an owner including sell.