Got into this business via DIY rentals, but did find an experienced real estate attorney from day one.Also joined a local Real Estate Investors group that saved us lots of headaches!

Partnerships or joint ventures are also effective for splitting equity and risk, while lease options can allow investors to control a property before finalizing the purchase.

You could either form a Joint Venture (JV) agreement between you two individually or between your two LLCs. 

I thought how ironic the neighborhood is called Hunt (at least I think it is--maybe I had ventured into another area on Google drive), And my thoughts about how it looked was it looked like some place you could go pheasant hunting due to the lack of buildings , and the amount of open ground . 

We are general contractors who rehab, build ground up, and do joint ventures with investors.

Best of luck in your new venture!

Where you purchase a property that needs some work, live in it for 2 years, fix it up (either DIY or hire contractors), and then refinance & rent it out.

My advice is, since you only have 2 properties, do hands on management, get a feel for neighborhood, rental market and save money by DIY.  

If the tenant is aware and using the grace period purposely, then you may have a tenant who pays consistently - on the 10th.with your latest info that you haven’t received payment on the 11th I’d venture you have a problem tenant.

Respectfully,Zach Hi Zach, you could do this through a joint venture agreement, which is basically a contract.