My Partner and I are forming a real estate investing company and we wanted to see how other partnerships split our responsibilities - especially ones where one partner was local and the other was long distance.A little bit about us:We are two professionals starting an LLC in South Jersey and where we plan on specializing in buy and hold properties in blue collar/upper-middle class neighborhoods.

I've had fellow HOA members contact me it of the blue about board issues before, and I'm sure this is how they found my information.

I am thinking the house will rent for around $1500 a month and is in a real blue collar area. 

You now own blue chip real estate that cash flows, which is really hard to do for most beginners.

I haven't checked the school zones, however, my goal is to find blue-collar people that work in the area, downtown or in memorial that need affordable places to stay.

There's no getting around the high property taxes.. its all high, esp around that area where the school system is top notch/blue ribbon....oh and b/c it's in NJ... 

You will need a blue print from a stamped architect who either works with an expediter or can handle it themselves so you get a permit issued in a reasonable period of time.

The area is nothing fancy but not low end, blue collar mostly....

I just hope you didn't get rid of that sweet pink and blue tile in the bathrooms!

Account Closed just realized the tag in my last post wasn't blue, see above.