Have a strong partnership agreement that clearly defines roles and responsibilities, profit sharing, exist strategy, etc.

As @Jonathan Greene mentioned this is kind of a dated strategy in the new price/interest rate environment.

•For your next purchase, check if you can leverage FHA financing again—it’s one of the most powerful ways to scale quickly.Resources to Learn More•Due on Sale Clause & LLC Transfers: Nolo.com•FHA Loan Rules for Multiple Properties: HUD Handbook 4000.1•Scaling from Single-Family to Multi-Family Investing: “The House Hacking Strategy” by Craig CurelopHope this helps!

These homes are what most people picture as “home” and lend themselves well to coliving strategies.

They tend to be the ones posting religiously on linkedin the benefits of garbage investment strategies in order to continually feed their business and have poorly drafted operating agreements often with side letters that are really  only necessary to hide from their lenders where their capital is coming from. 

@Michael Goddard Not a bad strategy. 

Diversify and leverage the best strategy based on the specific deal.

Look at their marketing strategy.

Andrew will give you some great guidance on investing in Texas regardless of your exit strategy.

Talk with a CPA or read tax strategies (you may be able to save yourself some money).