Hello Shannon, I am in the preliminary stages of my journey as well in the New Orleans area, I am trying to build a team of just networking that we can build off on and support each other on the path.

There are different stages of adding valueHypothetically if I would go back 7 years and own a piece of land outright with zero experience..I would spend money and pay a few consultants and engineers to get approvals for the best use of the land example 300 unit condo building..

the foreclosure process can be a long process but if you finding the house in the very latter stage it will likely be a challenge and you'll be rushing through things to try and make it work.  

Now, I only taking the 25% but again, I'm not putting a cent so my ROI is infinite with the potential (now that he saw the profit) that he will put more money to buy 2 to 3 properties at the same time which would increase profit.Would I stick to this arrangement in the future?

Arrange for a final walk-through with them once the unit is vacated before returning any security deposit;   4.

There are obviously a few stages to the BRRR model, so look at each one and evaluate how "good" are you at that particular stage.

Also, would the specific arrangements be detailed in the LLc document or in a separate contract?

This can be a good option if the buyer is not yet ready to commit to a mortgage but is interested in eventually owning the property.Seller financing: In a seller financing arrangement, the seller of the property provides the financing for the purchase, rather than a traditional lender.

Right now, I am in the beginning stages of real estate investment spending a lot of my time educating myself.

Do a flip, wholesale some deals, go out of state, or wait for a different stage in the market cycle.