Quote from @Michael Poloncic: Three individuals signed a lease together, all friends, the lease is set up where each of them are expected to pay 1/3 of the rent.

I have seen a lot more success from my friends getting cashflow in that area. 

You can also use BiggerPockets resources to find investor-friendly lenders.## Strategies: Flipping, BRRRR, House Hacking- **Flipping:** Focus on properties that need renovation but have good potential for resale.

They are investor friendly and popular amongst wholesalers.

rent out all the bedrooms to your friends. 

Originally posted by @Taylor McClure:I was talking to a man a week or so ago, and he said that his friend used to buy properties that were a few days prior to foreclosure.

High taxes, a declining population, and an environment that is less than friendly to businesses are important factors to consider.

If you are in a state where eviction cost is high and it is tenant friendly you may need a higher credit score to offset default risk and eviction cost.If you are in a landlord friendly state where it is easier to get non paying tenants out you may be able to handle more none payment risk.  

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.