It took some trial and error, and with each purchase, I learned more and became better at what I did.One of the most important things I learned was to have faith in my ability to underwrite deals.

Besides, for me it was more a trial to see how OCF works than the specific numbers.The acquisition process went really smoothly, enabling me to quickly turn around and refinance the property.

@Lynette GuyI am thinking of moving on from Evolve (after 6 months of trial).

I personally learned by trial and error as you suggested, but it took years to get any traction and I could have definitely been way ahead if I have leveraged the ability to learn from others who had successfully made it before me.

Fixed expenses are simpleInsuranceTaxesThere will be slight variations in those, but more or less they remain consistent.

@Tanner MartilloI would go with a variation of option 2 but with a high LTV but only if your relationship with the partner is very solid (like for life solid).At high LTV, retail (MLS), rent ready purchases in San Diego will have negative initial cash flow.  

After doing this, I then run the property through Airdna.co and/or Mashvisor.com Both of these tools will give you projections of what type of rental rates, price per night, bookings, occupancy, seasonal variations, etc.

Seeking advice on how to formalize an agreement with a partner to flip a house together and how to hold title assuming that we would not be creating an LLC until after a "trial period".

If you can find a quality agent in Columbus who is familiar with the trials of out-of-state investing, you can really find some awesome deals out there.

Tenant appears in court and requests for a trial.