PM will give you a great baseline of practical skills for real estate investing i.e. handling leases, landlord tenant law, utility structures, maintenance, improvements, maximizing property value, keeping books, marketing, conflict management, working with contractors and vendors and a whole host of other skills and knowledge.

If it does include that - I would use that valuation.There are multiple methods the IRS allows you to allocate the purchase price between building and land.

The structure being contemplated:-- The cash they each put in gets paid back with interest/return.

They can look into any Code, Zoning or Structural issues if necessary.

Team-If I have found an investor (in a friend) who can invest 150k to possibly 300k at a time what would be the best way to structure deals? 

I bought a 3bdrm 1 bath raised ranch in july 2017 for 42k, I structured 25k for rehab and wanted to sell by september/octobet of 2017.  

Then no additional bookkeeping, no potential to pierce the corporate veil, and the way the tax code is now structured it's not going to make a difference to your tax liability, either, I don't believe.

There are also a number of ways to structure an LLC to reduce the single-owner liability protection issues.

Nobody I spoke with at the banks to this point have mentioned the loan structure of what you described but I’ll certainly ask for it next week when I try to look at some of the options presented by the forum today.  

My Canadian clients invest in our projects and don't have to worry about lending, property management, banking and structuring you will face when you buy a property on your own.