Thanks again for contributing and helping the fellow South Dakodans.

I own other real estate but just not commercial.Most people would say is find a partner that can contribute more equity, which is always the goal to network and develop more relationships.

Thank you for all your contributions.

Welcome to the group, I'm sure you have a lot to contribute and a lot to absorb.

I look forward to being a part of the bigger pockets community and contributing where I can.Thanks everyone!

Everyone you talk to could become someone that contributes to your business in some way.

I'd get your roles, plans, expectations, capital and non-capital contributions, future profit distributions , etc. in writing before working together... be it a formal company (highly suggested) or a defacto partnership.

These loans will probably have shorter terms, 15, maybe 20 years.I'm guessing your parents are willing to give you some credit for the work you contribute.

At 142, I'm coming up with about a 7% return, which I don't think is enough:Purchase Price: 142,000Down (25%): 35,500Closing: 3,000Misc: 1,000Seller contribution to closing (2%): -2840Total cash invested: 36660Gross income: 18000Expenses@50%: 9000NOI: 9000Debt service (4.5% for 30 yrs): 6475 (540/month)Cash flow: 2524 (210/month), or about 6.9% COC.At 130K, the return goes up to about 9.1%, which I'd consider to be just barely in the ballpark.I know what you mean about the Dallas market.

Your contribution is your scouting talent, execution of the deal (selecting attorney, contractor, etc.), management of the rehab, etc., with your partner's contribution of capital and management.