Create a detailed operating agreement that includes how you will go about handling as many different scenarios as humanly possible (like how to address if one partner is not fulfilling their responsibilities, what happens if one person wants to sell and the other wants to hold, how frequently you will review the finances of the operations, among many other things I would recommend chatting through.Hope this helps, and I'd be happy to connect to chat a bit more specifically through your situation. 

Any body have a recommendation for an appraiser in the Tomball or Magnolia area?

Who is the governing body?

I would put a picture of a human up if I were you.

Hello every one, been on this forum now reading every body's post and setting on the sidelines rooting and watch and listening to all the positive thing going on and finally stepping up to try my hand at our first home purchase.  

I sincerely hope you experience the heartbreak of suicide so that you’ll all become actual human beings instead of parasites.

The last couple times I've compared/contrasted, the DSCR (for LLC) and Fannie (for a human person) loan options had similar rates, but the fees on the DSCR one were higher.

There are apps where people can show themselves around a unit but I think the human connection both sells them and screens them.

People don't need super human knowledge to figure these things out, but looking back at all the lessons learned (and which a rising real estate market bailed me out of) I'm very aware of the difference between what you're calling a "hands off" approach and a "hands on" approach in terms of the outcome one will get.This is not trying to dissuade people from doing it ... just advice not to think of it as a clean transaction where you are promised something, pay the money, and get what you're promised.  :-)

One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not."