At first, it would be for smaller commercial properties, but if the relationship grows well and we make a good team, I'd love to scale up with them.Ideally it's a win-win for all:For the PM:They get a large chunk of equityThey get more business.They get access to my investors' capital for potentially future dealsIn a way, they eat what they killFor me:I look favorable to the lender with an experienced PM team as a partnerI'll get a deal under my beltI'll be able to get help with the downpayment, reducing the burden on my investors and myselfFor my investorsSure, they lose out on some equity, but they'll get a (slightly) higher return due to the lower monthly management feeThey'll sleep easy knowing that the PM has skin in the game and is experiencedTo be clear, I'm playing the long game, so I'm more than willing to do say, a 55/30/15 split with the PM/Investors/Myself and with a 3-5% monthly management fee.

The rental SFR game requires reserves.Also openIng a HELOC does Impact your DTI.

He agreed but since he was busy on the job we didn't really have time to discuss it further.So of course, one option would be for me to just be his private money guy and structure it as a debt deal, but I'd really rather get a little more skin in the game and partner with him. 

You can find one on this site in the member section for where you are.

You can easily do this by buying an older edition on Amazon, asking questions on sites like Biggerpockets, and building your own network.  

I look forward to the education I will get from spending time on the BiggerPockets site.

In that scenario they said you would need to put down the initial 20% using your own cash (your stake in the game).

I went to the Cook County Assessor site and found it is being assessed as a 4 unit. 

I'd call the tenant up and tell them that you want to up your game as a landlord, and part of that is making sure the place is a great home for them.

There are a lot of great resources on this site and people to help.Attend local REIA meetings and connect with like-minded investors: http://www.biggerpockets.com/meetRead the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingListen to the BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/