What legal steps do I have to take to form a partnership in terms of financing.

Finally making steps towards my first deal.

I make about 1k a month profit off the homes and am wondering what my next step should be.

It might not get to that step, but you want to be prepared.

I'm currently pursuing my real estate license and very new to the wholesaling game.

I am looking for some advise on the next steps that I need to take to complete a deal that was just verbally accepted this afternoon. 

My next step is to get out to the local Investors meeting.

I think I've figured out my plan of action in these iterative steps for purchasing another single family home. 

I can't see the reason to go else where to make 1% or 2% greater return.. you would eat that up in travel costs alone.But anyway.. in my mind we are getting to a balance market.. and your correct rents are not keeping up with costs.. so will be interesting to see how it all shakes out in the years to come.I remember when I started in the business if you put 20% down or 25% down and the tenant just paid off your house  forget about cash flow that was a huge win..and why not.. its a forced savings safe investment tax benefits.. etc.. then it became you have to make money on your down payment this is what created that run..Maybe we will step back in time and break even will be great..

A bit nervous and hoping this is the right move...but can’t be content with prior success as without stepping out of our comfort zone there can be no growth.