I have a investor willing to teach me how to execute a short sale in exchange for splitting the profits 50/50 and a affordable deposit (couple hundred).

i see casa del mar condos avg about forty to sixty thousand turn key and rent out avg seventy to one hundred dol per day.

You are forgetting every expense that the property has including taxes, insurance, maintaince/repairs, capital improvements (roof, HVAC, water heater, cabinets, etc), management, and vacancy.

Sometimes those guys can give you good insight about what you have--for example, if your furnaces are Moncriefs, they'll last you a hundred years.

Rhett you need to make an appointment with a CPA, it will be a couple of hundred bucks well spent.  

@Bryan BlanckeI've bought and sold hundreds of lots and land.In general I would not recommend to new investors.The Great Recession of 2008 had a more drastic effect on vacant land than houses, apartments and buildings.In many areas in the run up from 2000 to 2008 land prices quadrupled or more; and in many areas there is an over supply of created lots. 

They never pay the late fees which are in the hundreds.

Not since I spent hundreds of dollars on unclogging my sewer line this past fall and having my insurance company pay even more. 

It automatically generates various detailed wall types, doors, windows, cabinets, stairs, plumbing, electrical and HVAC symbols, and even, to a somewhat lesser extent, furnishings.  

Both in QuickBooks and in real file cabinets.