Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

I have a friend interested in partnering with me on a deal. I've invested in 2 properties 1 SFR & 1 Triplex. I currently manage them both and am experienced with the whole process along with finding deals and anal...

If we include investments in mortgage loans (trust deeds), real estate partnerships, REITs as well as direct property ownership, I’m at about 80%.  

Its also a good idea to keep any receipts (I use a google drive folder, they have a scan function that makes uploading receipts a breeze)

Land Use Codes and Building FeasibilityExample 1: Property Land Use CodesActivity Code: 4000 (Social, institutional, or infrastructure-related)Function Code: 1000 (Residence or accommodation)Ownership Code: 4200 (State government)Example: Regrid Property Example 1Example 2: Zoning DetailsZoning Code: T3Zoning Description: Sub Urban ZoneZoning Type: ResidentialZoning Subtype: Single FamilyOwnership Code: 1500 (Businesses and commercial entities)Example: Regrid Property Example 2Based on these land use and zoning codes, can I build a house on either of these parcels?

I have done a lot of these for my own portfolio, but am wondering if the tax implications are different if we do a cash out refinance for this partnership LLC and then have to "distribute" the funds to the members. 

I agree with the comments above.Most important is a fully furnished, comfortable property with the basic amenities: coffee, teas, functional kitchen (all utensils, spices, cooking and baking, etc.)

The successful flip generated a quick profit, demonstrating the strength of our market strategies and partnership.

I wish you would have told us the year, it makes a huge difference.Anyway, everything you mention, plus 1) get a camera run on the sewer line, 2) make sure the Elec panel is newer and sized correctly (a lot of HIs will just say if it's functional or not) 3) Foundation ( is it slab or raised?)

You could also explore a jv partnership with a local investor.