I have partnered with individuals on fix and flips but my goal for 2025 is to buy my first LTR.

So if the LP's have enough cash they simply pay the loan off and own it free and clear.. but the size of the deals are so large raising cash to pay off debt simply is not realistic at all so if the property goes into default your junior position investors find themselves wiped out.Further more thats why a debt fund like Chris has can be a good choice for the very conservative investor..

Personally I like 1 savings and 1 individual checking for each property.

It's always a personal choice everyone has a different perspective.   

But if I had a lot more liquid capital and had the choice, I would buy newer ones.

Do my 3 associates need to create a LLC to be able to do these renovations or can any individual do them, as long as proper permits are pulled? 

When I partnered with friends on a multi-unit property a few years ago, we chose individual umbrella polcies from our personal providers.

Whether its for investors, agents, or just a general meet up for like minded individuals .

Instead, build a solid bench of 3rd party vendors; HVAC, plumber, handyman, etc..When considering whether or not to make a hire, most of it depends on how many hours you can dedicate to that individual each week, at least when hiring a maintenance tech.

To communicate that a candidate doesn’t meet your qualifications without violating fair housing rules, you can simply focus on the criteria rather than the individual.