The transition from the security of a solid union job to seeking the opportunities that lie in real estate will take a transformation of mindset.

I work as a contractor in some up and coming areas around Johns Hopkins Homewood Campus and MICA, the local arts college that has totally transformed North Avenue.I work with a partner and we have flipped two homes in this area and are currently building 4 spec homes down the street, which we'll be selling for market rate. 

Make sure its a good amount to where they won't want to walk away from the deal(just because) unless its a genuine problem, of which you may want to reconsider yourself. 

He provided but only one responded yet the response didn't seem genuine.

If so, I would like some genuine advice.

(if he wants to control when earnings are repatriated to Canada, then he's looking at incorporating an entity in the U.S.)The best advice for him is to jot down his situation and objectives in point form, then find both and accountant and attorney who have cross-boarder business and real estate experience and spend a few hundred dollars to find an ownership structure which fits his immediate needs, but that will grow with him, or can easily be transformed to meet is longer term objectives without creating a nightmare of taxable events.

Just don't let him make you PROMISE to "purchase his shares" (which is what my assumption was from your first post), and he can be a genuine JV partner!

Quite the transformation, congrats on your success and good luck on the next one!

I am a boglehead who is transforming into real estate investing, specifically notes investing.

Basically, if you can't (genuinely) guarantee quick closing - you're not ready to roll yet.Looks like you DO have a good grasp on how to assess comps*, so THAT'S a start.