. - I originally went to the Fonville Morisey RE School in Durham (SouthPoint) for pre-licensing; and I completed my post-licensing at the Go School in Cary.

Not a trustworthy professional if you ask me.

In your opinion/experience, is it best to have a professional like this draft up your template documents?

I was thinking doing a promissory note which could work for now but eventually I would like to have more 'Funding partners' Also I'm thinking proposing they put 100% of the cash, I put knowledge and skills and my time I would not charge anything to list and market the property and we go 50/50 on the NET profit.

I'm only pre-approved for an FHA loan, so I have to follow a more conventional financing route.  

Even I am looking to connect with other like-minded real estate professionals to see how we can help one another.

A transaction-broker must use reasonable skill and care in the performance of any oral or written agreement, and must make the same disclosures as agents about all adverse material facts actually known by the transaction-broker concerning a property or a buyer’s financial ability to perform the terms of a transaction and, if a residential property, whether the buyer intends to occupy the property.

Before you set it up I would advise assessing your own resources (time, capital, skills) that you can provide to the partnership and anticipate what you think an ideal partner would also bring.  

My caution here would be to make sure you have a thorough professional inspection.

As a new investor, I’ve submitted a few posts trying to piece together my team of area professionals.