Consider whether an LLC is right for you—it can provide liability protection but isn’t essential for a single property, as personal liability insurance and an umbrella policy may suffice.

K1s show your share of income or losses from the partnership, and you include it on your respective personal tax returns.Now, to your partners.

I personally would not invest in detroit as historically its not a appreciating market and for cash flow and I invest primarily for appreciation - I go off the location location location mantra. 

While this job could be performed remotely, working with my peers in person for at least a year is important to me.

It was a personal referral, received a credit at closing for renovations as well How did you finance this deal?

We recently relocated to Phoenix last summer and I'm starting to look for recommendations for local credit unions here in Phoenix which are trustworthy, low rates, personal touch, easy/simple to work with, etc. 

People want reliability, honesty, being on time, and having a good personality more than just a few $$.

The other PM can be a fix-mindset type of person where they are not willing to share anything unless you have a property and are willing to sign a PM agreement in the same conversation. 

I have used up my personal funds and have been paying the crew out of the rents, and have done that even when it caused me to miss a mortgage payment, because I needed more units to be completed and occupied. 

Be prepared to follow up multiple times, using different forms of communication—calls, emails, and if possible, in-person visits to their office.