An LLC in the state in which the property is located is sufficient.

The parties experience, strengths and availability are critical to ensuring  the partners duties and responsibilities are compatible and capabilities are sufficient to execute on the business.

If you want to invest passively in RE and don't want to invest locally (and/or may not have sufficient funds) then you should look into REITs.

I would certainly think any market greater than 8000-10000 people would be sufficient to do some BRRRRs in.

@Amy FirminAmy, If you are bringing your kids in to teach them the business, letting them know that trying to cut costs by saving on legal fees is definitely not the best advice.A partnership template may technically cover the needs of the parties at its inception but may not be sufficient to cover the eventualities that can arise in real time.If you do find that template, spending a few bucks to have an experienced eyeballs on it to button it up seems like a good idea.

For crank windows that aren't in a bedroom, and aren't the only egress, would it be sufficient to simply remove the crank so they can't open, since there's no requirement that they do so?

Aside from your local or state laws I would imagine 30 or 60 days notice is sufficient.

No one wants to pay higher HOA fees but if the fees are too low then the board will not have sufficient funds for preventative maintenance. 

Conflicted on whether I should sit down with a lawyer to draft a lease, or if Zillow's basic lease is sufficient? 

The dollar you spend on ADU will be sufficient for the down payment of SFH in south or midwest.