Do some basic analysis (rent for the market and/or ARV) and if it looks like a deal then offer it to your investors for a finder's fee.

But the hard part is I want to live in a nice area and nice areas tend to be much harder to get positive cash flow (assuming I imagine I'm paying myself normalized rent prices for that area).If cash flow is so important, which it is to me since I'm basically trying to build up capital for future investments, maybe it's better if I rent some place cheap with friends and buy a less expensive property in an area I don't want to live (really south when I'm trying to stay closer north).

Basically I was hoping for a little input on if making a LLC for my partner and I is the best route, or is there a better alternative?

after that's out of the way, i'd like to jump back into the REI educational process and start buying more for the return/income stream.Can someone point me to a forum or a book to read that can help me with such a basic transaction?

These investors are just buying word of mouth/street talk "Want to sell" "We're buying" basically.

They all involve the same basic procedure.

Basically it means the courts will see this as you setting up a false company to try and protect yourself.

Will be talking to neighbors to get a feel for neighborhood and realtors this next week but trying to get a basic feel for the value.

I am looking for a long term investment eventually leading to a massive company of building apartments.

Basically, it is a condo inside of a luxury hotel that you can buy and enter into a hotel's rental program.