I’m going to be real: I don’t own a property yet, and I don’t have a pile of money sitting around.

@Preston Dean I personally like to make sure I have a set amount of reserves for each property to cover things, so if you have a pool of funds sitting aside personally I would just earmark a certain amount that you don't touch except for that property (or an emergency).

If you need the lawyer's name let me know.So now I'm sitting on owning an empty lot and still making loan payments.

Prices haven't fallen, and rents haven't moved up enough.Investors either need to work harder, be more creative, accept negative cash flow, or sit on the sidelines. 

That said, targeting homes needing work or properties sitting unsold due to poor pricing can still yield opportunities—that's what I do successfully.

Nothing wrong with partnerships - I have used one to scale way faster than I would have on my own because he brought skills I didn’t have - but if you can do a deal on your own first to get a better understanding of the entire process it may help you identify what you need from a partner and what types of things should be in the operating agreement.As for the operating agreement, be sure you sit down with an experienced attorney who will help go over the dozens of scenarios that may come up and how you would like to handle them. 

And in fact, we are just sitting and holding onto lots until they are able to be fully permitted already as is.

You'll find your ceiling where people snag your unit and are happy versus it sitting empty.  

Just come up with a list of questions (especially ones you might even already know the answer to) and sit down with a few. 

I think your issue is (if I recall your other post) that you don't have any experience as a co-host but are trying to gain it by offering your help for free.