An entity should be formed - LLC or C Corp. in which each has equity - the Operating agreement establishes who gets what, how and when.I prefer a C Corp. as that makes it easy to take profits as Capital Gains instead of Income, and you position can be sold by exchange of share.

The rental stage is much easier.To lower our stress, we limited our search region, hired a property manager, focused on nice areas with good tenants, did high quality fixes to last longer and lessen repairs, and established a relationship with a lender to simplify the mortgage process.

However, if it will stretch and stress you to the MAX, it is not worth gambling on future appreciation as I am sure you would make a nice profit selling now.....that's my two cents.

Eventually I'd like to establish a rental portfolio and enjoy the stability of passive income while still conducting flips.I'm interested in meeting folks from all over and look forward to learning as much as I can from the pros as well as the newbies.Take Care!

We recently brought in a highly established contractor & crew who are wrapping things up.

Similar checkbook control can be established with a Solo 401(k) Trust if you qualify for that plan format by being both self-employed and having no full time employees.It sounds like you have been talking with or reading about IRA custodians, and need to get on the phone with an Advisory firm that can do the necessary legal work to put you directly in control of the funds.

I would think the initial difficulty would be offsetting the LLC's capital unless it was already pre-established, is that correct?

It was recommended that I start building a relationship with a bank that offers acquisition lines of credit -- even if I don't qualify currently, so that in the future it may be available and I've established that relationship.

"Wali says his properties see a lot of “anti-establishment” foodie millennials who seek under-the-radar areas that haven’t been displayed on their Instagram feed.

Try establishing a relationship/rapport first, determine motivation, and try to find a win/win deal based off what you uncover.