Adams)High-end investment areas, suitable for short-term rentals.Cash flow covers expenses, lower CoC return.Grade: Not specified for individual neighborhoodsOver-The-Rhine (OTR)Revitalized, much safer than before.LGBT+ friendly, entertainment district.Median home prices at $304,900.Attracts young individuals.Grade: A ClassHyde ParkAffluent area, homes over $1,000,000.Hyde Park Square with over 150 shops.Safe, preferred by older families and retirees.Grade: A ClassMount LookoutFavored by young professionals.Small homes, townhomes, and apartments.Mount Lookout Tavern, a local hangout.Green spaces, safe suburb.Grade: Not specifiedMount AdamsCity views, small homes, slim streets.Median home values around $465,000.European-style architecture.Suited for young professionals.Grade: A ClassIndian HillWealthiest Cincinnati suburb.Mansions on large lots, homes range $1,000,000 to $4,000,000.Ideal for raising older children.Grade: Not specifiedWest ChesterFamily-friendly and affordable.Homes range $200,000-$300,000.EnterTRAINment Junction and many parks.Excellent schools.Grade: Not specifiedDowntown CincinnatiUrban living, apartments and townhomes $100,000-$250,000.Rent around $1,150 per month.Artsy and trendy, mixed professional population.Higher crime rates than other neighborhoods.Grade: Not specifiedWest Side Neighborhoods (College Hill, Westwood)C,D class areas, higher cash flow.Affordable 3-4 bedroom homes between $100k-$150k.Up and coming areas with investor interest.Grade: C/D Class

I’m not sure how much knowledge is suitable to keep my head above water.

When looking at areas to focus on to source deals, what are the qualities of suitable areas/neighborhoods? 

There is collaboration between us daily and all final funding decisions will go through me.What kind of operating agreements are suitable for such an investing partnership such that we are both still maximally protected within our own states. 

Get with an SBA lender who has experience, not one learning how with your deal.The issue too is finding a building suitable and then one that will or can have 51%+ vacancy at settlement!

It is hard to find anything much cheaper in this area suitable for house hacking that doesn't require a ton of work.Thanks for your time.

This is likely a dead deal because the numbers don't quite work out for investors but there's some discount suitable for end-buyers (worth $90K, selling for $80K).

In my case I had the candidate first and then found the property.I think if I were going do another as an arms length deal, I would still find and qualify the tenant/buyer first and then go shopping for a house (or 2-4 unit multi) that fits their needs and financial capabilities.I like your buy strategy ... essentially rescuing someone from possible foreclosure, but how long do you end-up carrying the house while looking for a suitable tenant/buyer?

So what would be a suitable bonus commission to offer?

Out of all the great management  companies in Memphis I'm sure you'll find one suitable for your needs!