The answer normally lies in what your goals are.  

And we'll still do a 50/50 split on the work we put in.Given all this, how do you think we should handle the loans, profit distribution %, and our partnership structure (tenancy in common or joint tenancy or LLC)?

The goal on a wholesale deal is to create a win-win scenario for the seller and the investor.

These are generally 12-24 month interest only loans that borrowers will generally pay back by selling or flipping to long term financing like DSCR loans.More on DSCR loans:DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

That's a fantastic goal to set for yourself.Since you're diving into real estate, have you heard of the BRRRR strategy?

My long term goal is have a few short term rental properties and I’m trying to decide what’s the best next thing to do with my money.

Just depends on goals and needs 

What would you advice, should I go ahead and start out of state investing with section 8 why I continue to pay rent or patiently wait till I find a property in Houston to house hack (This will take some time away from my goal of investing in a certain number of units this year).Please share your opinion.Thanks

If I were to invest in JAX right now at the beach, Atlantic Beach is goals. 

What is your long-term goal, is it strictly just cash flow or to continue to build wealth?