That was my primary reason I want to visit the area this weekend.

I kind of just want more options and flexibility but maybe I'm overlooking something.

This structure first compensates either partner for skin in the game (kind of like you would otherwise need to pay for private money), then splits rest.On the legal structure, sounds like you'll want to set up an LLC, along with an operating agreement that specifies the different duties you each have, all the stuff you agreed on deal structure above.

I am kind of a spoiled brat to be honest.

Im wondering if it is going to be like this everywhere and I’m hoping that a kind soul might be able to throw us a lead on a good place in a safe neighborhood for 2+ bedroom 2k/mo or less and we do have a 11lb poodle mix dog.  

View and talking to some googlers and they were telling me homes by Google campus 5 years ago for a 1k sq ft older little bungalow was 500k.. today 2 mil plus.. so what kind of IRR would you get if you bought 4 or 5 years ago and sold Right this minute.. cash flow is negative a few hundred a month.. so what.. when folks say don't buy because of negative cash flow ever. they are not working in high appreciating markets.  

What kind of properties are you looking for?

@Gilbert Ramos You may want to visit your local real estate investment club.

If not then you may be better off giving your tenants notice of termination and leasing to new tenants.BTW - I like to look in prospective tenants’ cars when they visit the property to see how clean they keep their cars.

IMO they have difficult jobs but what I tell my clients is that it's like substitute school teachers.... you don't know who you're going to get and you don't know what kind of mood they are going to be in.