Now that I have begun researching real estate investing, my interest in home rehabbing has only grown and I could say Im willing to leave the safety of my welding job in order to gain the skills and knowledge of the contractor field.  

Because we are getting such an incredible deal on the property, we think we could sell it for about $75k more than what we bought it for and the next owner/investor will still have the potential of making a 6 figure profit if they sell it or gain 6 figures in equity if they keep it and update it.

There is a lot of benefits to partnerships.

The hope is that I can keep purchasing properties with the money we gain from the Cash Flow from the Turnkeys.

What sort of Tax benefits are we looking at as we are quickly moving up tax brackets and are looking for write-offs. 4.  

What would be the benefit or downside to each.Also, would anyone recommend using a realtor for my first buy?

Jeff Kehl How did you structure the deal so that both parties would benefit from them selling to you?

If you are considering it more for regular life benefit then I say go for it, knowing that it is the primary reason and anything you get from the investment part is just a bonus. 

The Sun belt seems to be gaining momentum with TX and FL leading the way.  

Even if you just break even consider that a huge gain as your profit is in the experience!