I signed on to a program that was to form student investor groups in various cities that would offer extensive training at no cost AND 100% funding of flip deals up to 70% of ARV to the students  in exchange for a specific term of 50/50 profit splitting between each of the program directors and their respective students. 

Of course, we had done extensive work to one of the units.

That money is the partner's contribution into the partnership and by extension his basis in the LLC.

After we have re-positioned the property we will refinance to pull out equity and repeat the process.We plan on using the BiggerPockets platform to learn, grow and connect with other RE professionals: Flippers / Rehabbers / Investors: Given that we are undertaking an extensive marketing campaign we will most likely have deals that don't fit our criteria or have too many deals to execute ourselves.

My background is in Engineering and Business but I have extensive experience designing and building houses.

He has extensive renovation experience which is his "side-job" from his main firefighter career (he works 24 hours on - 48 hours off with firefighting).

My long term goals are much more extensive.

I am an active real estate investor myself, and have extensive experience in property renovations and have built a partnership with a construction team here in Nashville.

From the outside it has extensive damage and needs a lot of work.Remediation of fire damage can cost big bucks.

Whether it's Keller, Coldwell, Century 21, etc you will be cutting a big portion of your paycheck to them.They advertise lead generation through their networks and extensive training, but I've seen programs that are just as good and make agents just as much money elsewhere.Full disclosure, I'm a broker at Equity Real Estate (the largest brokerage in Utah and top 25 in the country).