I answered this question in detail in another thread. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

The LLC would own the property, and your 50/50 split can be outlined in a detailed operating agreement covering roles, responsibilities, and profit-sharing.Since lenders often require personal guarantees for LLC loans, clarify that your partner will be the sole guarantor.

You can provide more details, but there is no legal requirement to do so.

Are their listings detailed with good-quality photos?

Not a book, but Bill Faeth has a lot of free, good content on his site and YouTube videos.

We use all standard Purchase Agreement paperwork and just have a seller financing addendum, which details down to the last detail every everything. 

When I let people back in, had a detailed plan as people salvaged thru. 

almost every youtube video ive seen. but I have learned my lesson.