You'll be a millionaire and have the ability to make millions upon millions more.So just do a deal to get the experience from it.

It does not exclude one's ability to do a DCF analysis.I think all of the posters here agree that one needs to do proper due diligence on any investment and do a financial analysis if the numbers are not obvious.Interestingly, although I am a big proponent of discounted cash flow modeling, Warren Buffett does not do all that stuff.

Being the member-manager of the LLC, you have the ability and authority to act in any way on behalf of the company.

Year 2 and after that is up to his ability to work the deal.

So we have the ability to go 50/50 on expenses and it will also make getting a loan easier.I am interested in getting into REI, mainly flips at the moment and eventually multi unit rental properties for the income stream.So to make a long story short, given my circumstances(money, expereince, market) what would you do?

There is no real connection between a residential property's value and its ability to produce an income stream as a rental.

The contract would be meaningless, and whoever won the sale would now have the ability to buy the house.

The "gurus" certainly won't say that because it cuts into their ability to sell expensive courses and doesn't make REI sound easy.

The ability to conference people in.

If you are only a 1/2 owner then when you sell the ability to receive the gains without tax is compromised.