The city will most likely require you to also provide a set of plans outline the work to be done - verifying where you're adding plumbing and that you'll have smoke detectors in the new bedroom. 

We were wondering if anyone had an outline of where to start so we can start tracking expenses and so on. 

Since I provide the up front cash purchase, I would reap the profit benefits of a flip or take possession of any rentals, which I would likely refinance using the BRRRR method outlined here in BP.My initial goal is to flip 3-4 properties and as I gain knowledge of the area, begin to build a rental portfolio.

Daniel Lehrman I don’t have some specific goal of 10k a month in ten years but I can outline what I have done so far, what I plan to do next and where it’ll likely evolve in the next 10 years.You could look out of state and buy in cheaper markets.

Outline where you want to be in five years.

I've found some basic "Agreement Letters" which will outline all the work needed to be done and how I will be re-paid for all funding and a certain percent of the profits when the house sells. 

It seems as though many people have outlined great advice to you.

Once the threat of the foreclosure sale is avoided, he might quickly change his mind as to what he actually owes you regardless of whether you're a lender or a JV partner as you outlined above.

Writing a business plan even if it's just in outline format is a valuable exercise for the business owner to get clarity and analyze numbers for profitability and cash flow.  

It will also have a section that briefly outlines the current financials of the property as well as something called a proforma.