This functions like a duplex (as you are living in the main house and renting out the additional unit).

I have a question for clarification relate to managing partners compensation. 2 Managing partners will be doing the majority of the work while two partners other will be silent equity partners. In your experience, how...

Would you consider possibly doing a partnership?

Even an 8 CAP should get the partnership at least $50k/year...without the repairs,...etc...

@Mark Karelin one of the better recommendations from the BP podcast is to do a personality assessment when you have a partnership.

Those who attended are now starting to build a REAL local network that will mutually benefit them either through partnerships, education or motivation.If you are interested in joining us for the next meet-up, we created a closed FB group called Tampa Bay REI Growthstermind.

No formal agreement was made on a “partnership” agreement and anytime I suggested such he said we’ll figure it out later.

If there are multiple members the LLC would be taxed as a partnership. 

Otherwise seller-financing, partnerships, and subject to (not my area of expertise) can be great ways to acquire property without a lot of capital.

Functionality which sets followup reminders would be a plus!