Hi Blake,You're going to need to set up some kind of legal structure if you are pooling money together.

Fix and flips are going to need non-conventional financing.

I hope this works out for you David Robertson.You are going to need an application for them to fill out.

You're going to need to live somewhere anyways, and what better way to get into investing than to cut into your own housing costs and learn how to be a landlord without having to travel far to do it.Would that be an option for you?

If you've only got the three days a week to participate, you're going to need to have an awesome team.2) I actually love the idea to come into someone else's deal as an LP. 

You can make it complicated enough to need an attorney, but its perfectly possible to come to terms without an attorney's help.

I will take any referrals and advice on the process thanks in advance.AdamHey AdamCongratulations on your successYou're going to need the operating income and expense information from the property for the last 2 years, leases and of course your personal tax returns for the last two years if you're going with a bank. 

Lastly - if I decline them based on someone else meeting requirements first, am I going to need to refund their application fee?

It's all very confusing and you're going to need to explain what you mean better if you want a decent answer.

So I always urge people to start with the end in mind and take a more passive approach.Do the math here… you with 300 dollars per property (2 months of work to buy a turnkey rental) you are going to need 20-40 of these to replace your income.