And no - I'm not marketing myself :) I prefer to stay far away from flips.

I would much prefer to work with someone who will take the case on contingency.  

I think including a preferred return into the operating agreement so as to cash out my colleague first if/when the property eventually sells seems good.

I am actively seeking new deals on rental units - preferably multi-family - however it seems like every time I work with my realtor on the MLS deals get snatched up or too much competition out there (at least in the Dallas TX area).

preferably for rentals you want to stay with the 3/2's as they are the safer bet.  

Please let me know your opinion or if you have any experience and prefer one over the other! 

Thanks Michele for your input.Another way of making my question: would an investor prefer to use interest-only HELOC, or they are ok with interest+principal HELOC?

@Richard Sherman Ya I'm ":old fashioned" too and Id prefer to be able to easily access my property if I need to.

Questionsi would like to purchase down the line preferably next Summer ( April - July), as i understand they would be appreciation based wealth building properties and not typical cash flow properties.- What areas could i look for SFH ~1500 sqft around $100-110/sqft- I know its expanding towards ANNA until Sherman, how is the rental market over thereany suggestions on these would be great, thank you.

I forgot to mention that if they speak spanish it would be preferred,  not a deal breaker, though.