What we'd really love is to start a partnership with a rehabber who is willing to travel and do the fixit work while we find and secure the properties (I know -- but if you're going to dream, dream big, right?)

@Matt Harris I'd be interested to learn more about this partnership.

I been looking all over BP for partnership deal examples but I haven't found any.

I been looking all over BP for partnership deal examples but I haven't found any.

Which can trigger you to payoff the loan or switch you to a commercial rate. . .

From what I've seen, a fairly common partnership is one operator and one capital partner.

Is this type of partnership structure is common?

Forget the LLC all you need is insurance but most importantly you need a qualified lawyer to draw up you partnership agreement.There is no place for trust when it comes to business and money,  what you need is a air tight legal contract.

I just purchased a home for my family that we plan on living in and in my wife's mind, dying in, lol.So I'm thinking about trying to do a flip and use partnerships with friends and family to get started.I have a family member that has bad credit but has some cash and skills to being to the table and he is in the same town.

We will fund 100% if the deal and pay finders fees or for experienced rehabbers do a JV Partnership.