I'm 25, a teacher with no debt and a some money saved up.

I have one main checking account for my LLC to help separate it from my personal banking.

One of your goals is to build capital so this does fall under one of your goals and if this is a person that you believe you can trust and do business with, which is one of the main things that I would focus on (the partnership).

Medical debt, divorce and bankruptcy are all things that can damage credit but they may still be good tenants.

I will explain in the steps she gave me with examples. 123 Main st has a Municipal tax lien for $35,000 total.

I would say this particular street may not be as bad as some of the others deeper into the neighborhood since Brookdale is close to the main highway which is American Way.

This frees up your debt to income ratio.

@Kevin ScottFrom what I've been reading... cash flow is king.Buy for cash flow, hope for appreciation.I personally would be happy with a fair market deal in a GREAT location as long as the cash flow/debt made sense.There are other ways to add value/force equity.

either way he pays tax on the gain.If he sells you the LLC as @Carl Fischer indicates the LLC stays in place as well as all debts contracts etc of the LLC. 

Our main focus is to find a property that we will have little to no problem renting out and managing.