I am also trying to form a local one.

Then you build a pro-forma of soft and hard costs and your targeted return and work you way backwards.

I am going to be using money partners to get started, so I was thinking that I would need to form a LLC with a money partner once I find a house to buy.

This is a recent article from an attorney on how they're structured in the Joint Venture world where a sponsor teams up with a capital source, in this case private equity funds,  to form a borrowing entity.

Hi Cody, I'm interested in finding 2-6 other guys to form a mastermind with (1M+, similar to GoBundance), focused on all aspects of life, business and money included (US based, Virtual: Google Hangouts, Zoom, or FaceTime, etc).

Hi Theodore,Just looking at the numbers, there's not much upside from the current 8.5% cap rate to the pro forma cap rate of 10%.  

I couldn’t help but think how if we could form a partnership, where my responsibility would be to secure the financing and he would be the contractor on the flip.If I was to pursue something like this, how would you suggest structuring the partnership?

You do not want to develop because everyone else is building an asset class and then you own and overbuilt asset that does not meet your original pro-forma numbers and income is less than expected.Per acre grading for instance you could pay 1 million for 3 acres or 800,000 for another piece of land for 3 acres.

I'm setting up a pro forma for a multifamily acquisition and was just curious what type of ratio you all use when projecting accounting and legal fees in your analysis?

But I wouldn't count on the bank to do that for you, you should point that out to them and provide them with a pro-forma of how it will operate without those 1-time capital expenses.