Also, my partner on the deal and the property manager both have had/currently have college rentals in this market and systems for managing them and mitigating the risks.As for value, they vary a bit (some are SFH, others triplexes or duplexes) but the market value of the portfolio is about $700, and we are going under contract for $490K.

If you need cash for the rehab, best bet is to partner or find a HML.

Hi All,I'm in the process of purchasing a Single Family House with 2 other partners.

Hello, I have been working on coming up with a more accurate personal balance sheet (as have my two partners in my LLCs) and personal financial statements. 

Other than that, you could look into receiving financing from hard money lenders, banks, other people's self-directed IRAs and 401ks (as long as you are not a disqualifed person), or partner with others.

I have a chapter in my Book called "The worst partner you'll ever have".

Where do you go to find partners like this? 

Once you have a home or two it's easy to partner with a Property Management company who can take managing off your shoulders for a very small cost.

It would absolutely be easiest to partner with someone that has one that is open. 

I personally would not invest as a general partner without a detailed agreement in place.