I am fairly new to real estate investing, I've read multiple books and will continue to learn from this site before making any rash decisions.I am hoping to learn from others on this site, and build a network of people to assist me with my business ventures, If there are people in either area who would like to connect please contact me.

Probably best for you to re-visit your stance on screening tenants so you are not in violation of any laws of Fair Housing, Disparate Impact, or Discrimination.Good luck out there! 

Only play is APPRECIATION.   

I have been presented an opportunity to JV for 1 year with an experienced real estate investor with verifiable references and a proven track record. I have conducted my due diligence and found everything about this po...

What, in your opinion, is a fair cost structure for small multi families (2-4 units) do you find acceptable?

Motivated sellers are expecting their property to be sold, fairly quickly, and in as-is condition.

If property was free and clear, then the owner of the property should get the fair market value first from proceeds of the sale.What was the purpose to do 50/50 and how do you legally wrote that house contribution?

It's definitely fair to pay for materials up front, because that will probably be an up front cost to his company as well, but I'd suggest withholding a fair amount of the payment until the job is done.Anytime any sort of contractor and owner set up a contract each side has leverage on the other to make sure the other side fulfills the contract on their end. 

Work with the owner on a fair sales price, and ask him if he can hold the note, as you build your credit, a year should do it, maybe less. 

Add value and fairly priced.Add Value- consistent deal flow - MLS, Wholesale, off market.