Also, I know its subjective but there are no B neighborhoods in LA with $500k duplexes, not a big deal but I think its important to know where you are making the commitment to buy, and if it is truely a B area then $500k may be a home run based on mkt value. 

I have a group of friends that is willing to commit about 300K of capital for me to BRRRR with. 

If you take out a primary-residence mortgage without the intention of remaining for that year, you are committing mortgage fraud--not good.How much equity do you have in your current home? 

If I'm going to live there I want to see it before I commit to buying it, again though if I see one unit that's fine with me.

We are finding and selling around 40 of the best off-market properties every month and have a committed following of investors. 

I won't give advice and I won't commit to a specific strategy. 

I found out a few months ago that one of the guys got committed to a mental institution and his wife divorced him while he was inside.

I'd do my homework before I commit...have you done inspections or gotten rehab estimates (and not the estimate that the wholesaler gave you).Don't let emotions drive you, think it through and don't be rushed. 

As a landlord, your best defense if things get ugly is correct paperwork delivered in a timely manner.If you're going to evaluate these guys, realize its a commit like a marriage for life.  

Make sure they can commit to a value not to exceed (you want a guaranteed maximum price - GMP).