., methods for tracking spending, lists of contractors, insurance, how tenants will pay us and how they will contacts us etc...) but any recommendations on books that outline a to do list prior to buying that  first buy and hold?  

Jon Buist you could have an attorney draw up a Joint Venture agreement outlining how much capital, work and profit each is entitled to.You could also create a new LP or LLC and assign or transfer the property to it.

First outline the plan then execute

We drew up a partnership agreement outlining share percentages, roles/responsibilities, clauses in case of death or incapacity, Right of First Refusal in the event that we want to dissolve the partnership, capital call provisions (needing additional funds), written approval from members for expenditures over "X" dollars, etc.

I have some questions regarding what we should do about the partnership and also what are our best options.can someone outline the steps we will need to take in order to make this successful?

I want to outline our plan, purpose and responsibilities.

Connect with me if you want more info, and in fact I just did a webinar to my local Meetup group here in Seattle which outlines the tools I use to run my note business as well as multiple SFR flips and rentals. 

What I would not do is break it up over anything more than 3 months.Also, you need to add language to your lease, or add an addendum, that they sign/initial, etc, specifying that if they fail to submit the total security deposit as outlined in the agreement, that you have the right to cancel their lease immediately.

I provided a stack of deposit slips when we signed the lease and outlined expectations on how rent will be paid via deposits into my account.

Meaning you want an agreement outlining the terms of payment for your time and then a security deed (or whatever Cali uses) securing your cash investment as a loan so he cant sell anything without paying you.