Deal analysis will also allow you to develop your own investment criteria and recognize those deals that meet them. 

California does not recognize series LLCs so you may want to do some research here.You also want to look at whether a pass-through entity helps your bottom line and your taxes.

If you are genuine, bring value to them and are personable, you can form an excellent partnership with them.

In this way, you will be able to recognize a deal when it is brought to you or when you see it.Lack of financing is an obstacle that can be overcome if you can find a great deal.

I'm fronting the cash for partner 3 and then we split the profit 50/50 (he found the deal, got it under contract, secured HML, will project manage rehab, oversee sale AND brought me in etc. he's crushing it and a genuinely good dude too!). 

I genuinely want to hear your opinion so I can educate myself and maybe  be worthy to be in your all mighty  presence one day.

Here is the most valuable tip I can offer, and it is genuinely priceless:Rent to tenants that have their parents are co-signers.

I recognize there are other creative financing methods, but let's pretend we stick straight conventional. 

The biggest piece of advice; recognize that you are not always the right fit for someone, and they are not always the right fit for you.

REI, like life in general, is a combination of Geometry (recognizing and multitasking/planning out solutions to problems) and Algebra (application of those solutions).This is why whenever someone asks "what books they should read to help them learn REI", I always answer with "Geometry and Algebra".