We will sign an agreement and I have no concern about the partnership or the terms, I am simply wondering about the technical requirements of the literal procedure for combining funds for the purchase.  

You can also garnish wages which is a legal procedure and will cost $$$.

You need to talk to a local real estate attorney, so you understand what the laws/procedures are for obtaining clear title on tax deed type properties.  

All I would add are:- What is your policy and procedure if I wanted to cancel my contract with you?

That said, I also know many, good property managers who create value for their clients, have compensation that aligns with their clients' interests and have implemented professional policies and procedures to maintain service levels while growing their business. 

We have an auto responder that sends out:\Confirmation of instant booking email with dates and promise of additional info closer to check-inConfirmation or booking request with a promise to review it and get back to themPre check-in instructions (3 days before arrival)Follow up the afternoon of first day of stay to ask if every is going well with their stayReminder of check out time and procedures 24 hours before departureThanks for your stay and reminder to leave review 2 days after stay is complete.These emails take care of 95% of guest communication.

in affected areas first.Taking out drywall is also fairly easy (big hammer, regular hammer, and flat prybar is about all you need) but is very messy so enclose the work area, wear protection and ventilate it.Note if if this is a pre 1978 house which it looks like it is,   and you plan to rent it,  then legally speaking you must be lead paint certified and follow abatement procedures when removing or disturbing more than six square feet of painted surface in any room. 

Landlords can apply for EIDL as detailed in SBA's standard procedure for disaster loans. 

And we are taking economic procedures right now that are going to serve to further reignite the economy when all this passes.don’t forget, ’cause I’m sure everybody has, swine flu outbreak 2009, 2010, right here, United States of America, 60 million Americans infected. you have to visualize this, 300,000 hospitalized.

Then I would suggest you create a business plan of how the company will look when built out, and follow that up with an org chart.Next I would create policies and procedures for all the processes you are going to have to create when managing properties...And finally you need to make sure you are current on all the laws that govern you on a local level, state level and federal level (Fair Housing, Discrimination, Property code, eviction law, Fair credit reporting act, tenant rights, IRS)As you can see and I learned there is much more thought that needs to go into starting a business, whether it is PM business of any business if you want it to be successful.