He's the brains, lead generator, agent, and property manager of the operation (I trust him completely, he's a rock star), I'm basically providing the money.

Basically all of LA county and most of IE are good places to invest if you find the right deal. 

For example if Partner A buys a property assessed at 120k and partner B is assessed at 140k.

However, in some cities it is very cloudy on what will happen to your near future taxes, when inevitable re-assessments happen.

Some brokerages will assess a fee to recoup all the marketing to date, but at least you can move on.

It’s an easy process, but can get pricey based on the depth and what needs to be dug through (and later replaced)There snare companies that do trenchless replacement - basically a hole is dug at the curb and the new pipe is pulled through the old pipe, breaking up the old pipe in the process.

Basically nothing would change other than the Owner of Record.

At least I have a better idea now of some of the basic structure.

Basically anything that is relatively easily accessible to I-95, so we've seen quite a few options in Lake Worth, Del Ray, etc.

@Pandu Chimata There are a few other things that the Underwriter will require in order for you to get the Primary residence (Owner Occupant) loan rate.1) You will be required to sign an Owner Occupant affidavit, This document basically covers you legally stating you will occupy the property within 60 days of closing escrow, and you will occupy the property for a minimum of 12 consecutive months from escrow date, and you will not rent, lease, or sub-lease the property within the first 12 months from the closing escrow date.2) The other thing that often gets asked is, How far away from the current primary residence is the new property?