Those sales may happen off market between you two, or may have creative terms, but really you're negotiating two separate sale both of which only happen if you both like the terms.

Prepayment penalties- usually 1-5 year terms.

Tons of recreation as well so could be good for a short term rental or medium rental

Prepayment penalties- usually 1-5 year terms.

I question if there is any benefit to creating a LLC now and opening the bank account in the LLC name.

I would send an email reminding them what it means being both on the lease and jointly and severally liable for the payment of rent and that you are required to follow all terms of the lease as written, including filing an eviction that will attach to them both if necessary.

What advice would you give to an investor starting out in terms of location?

You begin to acquire properties to hold for the long term, creating a steady flow of passive income.

I'm particularly passionate about Long-Term Buy and Hold Investing.Outside of real estate, I enjoy Triathlon, Beer Runs and races, and pretty much any outdoor fitness type activity.Excited to learn and connect with you all! 

BTW, I have created several MMLLCs, some with people I initially never met face to face, and at the core are general terms and, legally, the Operating Agreement.