At the time, my brother and I created an LLP for the property, as a partnership where we would both share in profits (he provided labor, I provided cash).

I came across this video from the Greater Richmond Partnership (www.grpva.com) that does a great job showing off some of the reasons why the Richmond metro area is a great place to be.

Consult a lawyer before entering into a partnership transaction.

I would like it to be a fully functioning business though, any advice.

My buddy and I want to start buying some rental properties and he wants it to be a 50/50 partnership.

Economics 101 applies to pricing of hard money............always a function of supply of money and demand for money in a market.

@Gabriel Jaques - On the top right is a search function.

The IRA custodian I am planning to use is Real Trust IRA out of Washington state.Thanks for your insight.InderAs John said, number 2 might trigger the due on sales clause, but I've seen individuals do this and then deed the property over to a partnership before, so you should be OK.

I know there are quite a few property management companies and partnerships that hold large quantities of properties, and therefore, I assume, would have a corner on rental rates.  

3) If we did partner, at whatever stage that is... what business model is best for property investing and management as a partnership?