Outline a business plan, put up investment criteria, creating financial system and invent property management practices.

Professionally, I have study and working experience in the German Taxation Laws and know that Taxation is a crucial and vital aspect in any business in any country.I already have property here in Germany and currently planning to expand to Dubai and Miami USA. 

Otherwise you run the risk of keeping yourself busy going nowhere.BTW, I'm in California as well and invest exclusively in Detroit.

Either a family member, friend, or business partner.

If you have been self-employed for 2 years lenders will use 12 months of your deposits into both your personal and business accounts as qualifying income.

This is probably not the way you're "supposed" to used QB but I didn't want to get two softwares - one for business and one for personal.  

I was told they would have to be 50/50 on the business with me and as long as they are at a 620 or a 680 this is doable.

I like the WIIRE podcast - earlier episodes are primarily about MTRs although the hosts also provide a good deal of content relative to operating a successful real estate business.

Is private lending as simple as it sounds or are there regulations to follow. 

Interesting to hear about your business model!