Like I said I'm new at this, so while in this planning stage, I'd be appreciative of all the help I can get!!

I'm working on growing my real estate investor client base and I'm trying to create a staging package (6-rooms, all furniture and accessories, 60-day contract) that investors can't pass up... 

.), I’ll take the information and cross reference it with other pages and posts.In these early stages of my investing career, I’m not trying to innovative.

@Michele Fischer I like the idea of keeping them month to month, as long as they pay rent on time, but only one of the tenants will be at the month to month stage at that point. 

Hard money can be hard to pay back if your flip does not go well.....I suggest you CONTROL the property with a delayed settlement with right of possession, and during your study period, fix it up a little and and sell it at public auction, assign  your contract to buyer using an assignment agreement.The auction will be a "reserve auction", as is for all cash.Example:  if your contact is for $100,000 and you feel it is worth more, do a little cosmetics, contact  a friendly auctioneer, market the property (make arrangement with the auctioneer for a referral fee), set a reserve and auction the property.

There are now a few new startups out there to help you set up a co-living arrangement with the goal of putting people with similar interest into the house and the app helps screen, coordinate and collect rent. 

No matter what stage of life you are or what your dreams are, there's a way to use real estate investing to achieve what you want- from passive to active, real property to financing, and all the tools to enhance those activities in between.Real estate is a career for all ages and types.If you're just starting out now be patient.  

I don't know if he and his partner has any financial arrangement over the house.

That's not to say a stated amount can't be paid as profits are received, that's a different arrangement. :)

Pretty simple.As far as the deal goes team up with a local veteran in the biz and see if you can work out a 50/50 arrangement.