Thanks,My guess is that some newer investors find hiring contractors to be a daunting task (which it most certainly as for newbie investors) and they think that by partnering with a contractor, it relieves them of the responsibility of having to do their due diligence, put together a scope of work, put together a budget, etc.The problem with that reasoning is that they aren't relieving themselves of the responsibility -- they are just transferring it to someone who probably isn't any better at than they are, and are locking themselves into a relationship that would be a lot more difficult to extract themselves from than just firing a contractor.Plus, investors tend to make less money this way.In other words, partnering with a contractor is most often a lose/lose situation for an investor.

Because I enjoy the planning and coordination, I enjoy design and building, I want to be out in the field often, and I believe I'd excel at it.

If you are purchasing a Buy and Hold property, with lending, you must first buy the property in you name and then transfer the title(Quit Claim Deed) into an LLC.

Department of Housing and Urban Development (HUD), the agency who regulates FHA loans.The HUD investigator discovered the property was transferred to a new buyer, but the buyer’s funds were not used to pay off the FHA loan.

There is a good chance my family will PCS in the next year and we plan on renting out our home if we get transferred out of Hampton Roads.

To your questions:1) There is no need to record a purchase and sale agreement, but there is a need to record any type of conveyance (transfer of ownership) of a property, no matter what form of sale/financing.  

All this assuming you were local.If the deal doesn't work out, I could happily sign a contract saying the house will be transferred to the buyer if anything messes up with flipping.There are a ton of ways to make it a "safe" transaction for the buyer.But in any case the way I see it...

After receipt, I transfer money to main account which I use for paying expenses for all properties not managed by others. 

I have all my tenants wireless transfer money via Bank Transfers.

Profit: $80k-$60k=$20k Transfer and recordation costs : $2k Net profit: $18k abc and xyz each get $9k your thoughts on this is note abc is bring the deal and assigning it to xyz. xyz is funding it and holding it in a llc where xyz is the only managing partner.