I partnered with two people in 2013 -- one turned out to be the best partnership of my life (circumstances required him to do most of the work and I'll spend as long as it takes to repay him for his hard work) and the other turned out to be the worst (circumstances required me to do most of the work and he bailed on me before fulfilling his end of the deal).Main lesson learned: Rarely will a partnership work out where both sides do equal work -- if you're doing the bulk of the work, beware; if your partner is doing the bulk of the work, be thankful and don't take advantage.

Title held in a partnership has advantages over a mortgage.What does your "lender" want?

It's whatever can be agreed to.Know this going in, in the minds of partners that perform work performing tasks, a partnership is never fair, one will feel like they are doing more than another, but if that's what the agreement spells out, you agreed, it's fair. :)

You should have a partnership account for the rental, should be filing a partnership tax return.

I seem to have some problems with functions in the MLS on my Mac computer...does anyone have this issue?

@David Hartoon I would suggest using the search function as there are MANY threads that will answer your question.

Be sure and reach out if you have any questions on making the best use of the site ~I have had a great deal of success building some great relationships and partnerships thanks to BP.

It will have to be behind the other loan. (2nd, if a loan already exists.)Do your relatives own it in a partnership?

Maybe it is a function of my market, but I would be out some good deals if I had hours that I was not available to be an investor.

One suggestion is that you could alternate who takes the loan, then make your partnership agreement state that both are responsible, and have heavy equity dilution for someone who doesn't pay their share (or even equity dilution of all deals to tie everything together).