You have came to the right place to gain a lot of free knowledge.

If you were planning on partnership within a LLC, I would first write out LETTER OF INTENT where you both spell out what you want to accomplish and how- detail where the funds are coming from, who is doing what as well as what the percentages are loss or gain. 

If still no one calls me, I'll ask animal control to remove the dog and gain the possession?

Gain an understanding what you are jumping into tax and legal wise

I am not a tax professional, but I think there is some type of tax law that states the following: If you sell your primary home after living 2+ years in it, you do not pay capital gains tax on the proceeds.

PVP (including the less jumbled up blocks/areas of san pedro) is synonymous with luxury (unlike Compton and increasingly many urban areas of socal) so at least there is value added / luxury potential appeal to any multifamily you invest in, ie get as a fixer upper deal and actually hold long term for rent cashflow - as opposed to flipping(which subjects u to capital gains).

I signed up here to get ready to connect and gain some knowledge before taking the leap.

More importantly, you lose your cap gains exemption from it being your primary residence.

Check the laws in your state.Unless it's already disallowed by law in your state, as a wholesaler, you gain equitable interest by having an effective (signed by both buyer and seller) sales contract with EMD attached.  

You could also sell property #1 within the next 4-5 years and avoid paying capital gains= more money to invest with.