We are still ironing out the fine details.

Ironically I was down there yesterday and had lunch w/David and his wife Sharon who run this boutique property mgt and sales business.  

Thanks for that @Bob Razler Ironically, I was planning on putting a giant sausage on my billboards too!  

I would consult an attorney to be sure both of your interests are iron clad tight.What would happen if one dies?

It's just ironic that people use historical data for their vacancy, rent increase, repairs, maintenance, capex, but not for appreciation. 

I state my place in the course because I find it ironic that we have just now arrived to the part about criminal background.

As tenants ...neverAs business partners it only works if you have a lawyer draw up a iron clad business partnership agreement.

The truly ironic part is that with the higher rates of rent increases, these properties will cash flow better over the long run than the so called "cash flow" markets either inland in SoCal or out of state.

Ironic I was reminded of the rule of 80/20 by one of the podcasts on here a couple weeks ago.

It can get as specific as the partners want.Then when somebody doesn't live up to the agreement, that Operating Agreement is as iron clad as it could be and the courts force the partners to live up to the agreement they signed.