My offer of $133k was accepted, which is higher than my other rentals but this home needs no repairs. 1960's ranch. 4 beds, 2 baths, hardwood floors, new windows, newer kitchen, 2 car garage, newer furnace, newer baths.

Craig unless you trust this partner with your "life" i would definitely go via LLC and have you, your wife and your partner(s) each be a member with you being the agent.

If someone decided to take on a partner, can you help me with some brainstorming as how to structure the deal(s)?

There s not a single patrol care.

I am looking at the various options for develping passive income(s) that will allow me to transition from my current field when the time is right.I've been networking a bit locally and have exposed myself to this investment segment enough to where I feel I can have an intelligent conversation on the various opportunities that are out there.

@Stephen S.

The so-called 50% rule (some use 60% if the landlord handles utilities) does have statistical validity over the long term and is a good guideline to use as s first screening filter.

In my market #'s are fairly high and I found most multi's from a cash flow investing basis do not make sense (which is why I'm looking into investing out of state.)

I've financed a lot (100's) of 2-4 unit properties where the owners transferred into trust, LLC's etc and I haven't had a customer call back saying lenders were exercising the due on sale clause.

But you don't have to spend 10's of thousands of dollars to learn to do them.