Doing the BRRRR model and nearing the end of the Renovation stage.

I've picked up numerous books over the years, downloaded tons of hours of podcasts and am a sponge for advice/knowledge of those who have already done it and the path i should be taking.Right now, i'm just adding to the downpayment fund while learning all i can about the pre-deal stages, and am having trouble determining my niche (living in multi-family and renting out the other units, buying studio-1/2 bedrooms and renting out entirely, etc) in addition to avenues of funding (smaller downpayment w/ insurance, 20% down off the bat).

With his sensibilities I doubt a handshake deal will get anything done and it will help you learn how to handle those kinds of arrangements in the future.

They are equip to deal with financial emergencies in the short-run while making long-time arrangements afterwards.  

Others  mentioned the honeymoon stage, IMO that only happens with new tenants when it's a nice newly renovated house, inherited tenants start out frustrated and annoyed.. as the one we just bought is frustrated, she's lived there 6 years, prior landlord never improved her house, but fixed the other units to rent them out,...   

I want to make sure that everything goes smoothly and in order to do that I want to super knowledgeable and informed about the beginning stages.

I'm still in early stages of researching this, but it looks promising and there is case law to support this technique.

Then work with an attorney to help the two of you talk through and agree upon a business arrangement and splits, ultimately memorialized in an operating agreement. 

@Kevin Nolan -  Well,... let's see...Cheapest -Mud/Paint-Fixtures-Outlets/covers/switches-Vanities-Appliances-Staging (Seriously.

Now I'm in the due-diligence stage and wondering about insurance.