I have a house out there that we are deciding to remodel, flip, rent, demolish and rebuild or just sell.

Plenty of us on here would do that, we are all short of deals in Memphis.Given you have no money or experience working under someone skilled with their money is the safest way to start.

That's lower end entry...there is a wide range in Denton and there are opportunities, depending on your risk tolerance to look at higher end...in Denton County we are still undergoing strong expansion and are seeing spill over of development around the top of the lake. 

Personal use means clothing either her or other occupants of the unit wear.

My wife and I pre-qualified for an investment loan, but now we are searching ways to come up with the down payment.

While we are talking about partners and taxes, I wonder if the experts have any tips on specifically 'entity set up'.We are going to be using a lawyer to  set things up, but wanted to get some feedback here too. 

We are very familiar with HML draws as we also flip our own properties @Sharon Evans

Nobody know the best way, but I can tell you how we are doing it: we use Quicken to track all our finances and also for properties bookkeeping.

We are moving next month from out of town and trying to find a place to buy long distance has been hard.

As time goes on this can wear down or break.