Also I strongly suggest reading a couple of books, filtering the forums for discussions directly related to what you're trying to do. https://www.biggerpockets.com/forums/12/topics/318235-double-close-funding

Get a strong operating agreement drafted that outlines the purpose of the business and your individual roles in detail.Take it one at a time and grow from there!

(I tend to be very aggressive and head strong in my investment strategies).Any input is greatly appreciated. 

Can rent it out easy for $1,000+/mo thanks to the strong rental demand of local economy.

Even with a strong profit from a single property it would take a ridiculously long time to save money for a down payment and cash reserve for a 2nd rental.

Fourth, education and safety has always been incredibly strong in Minnesota.

@Matt Brunson you need a market with strong demand from flippers and retail buyers.

We have a strong market and have for years.

Usually I look for a value add like turning a half bathroom to a full, or adding an additional bedroom, but the comps were strong and I knew by cleaning the home up I could easily find the value.

@Agyei Axum i have been renting by the room for the last 7 years. that is actually all that i do. i would strongly suggest doing that in your case to boost cash flow in your expensive market. i would find comparables in order to price effectively.