To start, I'm only considering making offers on properties where the seller owns it free and clear.What is your step-by-step process?

If you are just starting out, I do not recommend you exposing yourself to more than 25k - 30k in capital investment through the whole life cycle of a deal - close to close.

So before you start dropping the list price, see what the comps LOOK LIKE and ask yourself if yours is in the same ballpark. 

I use this as my backup in case my BRRRR doesn't go quite as planned I can always just dump the property and start again.

I just started considering a 3rd option, bringing in a partner for a 50% ownership.

Hey @Chelsey Coleman, so you need to spend a ton of time on the forum and start reading.

I was looking to get into the investing space more heavily and wanted to start with a flip.

I’m wondering if using Customer instead of Class would work, thereby allowing the less expensive Simple Start or Essentials versions to be used.As a private lender I’ve been using Customer for borrower and Job for each borrower loan … seems to work.

And, 4 months ago I sent an update saying that the market has declined as predicted but we felt that it was starting to stabilize.

I think you may want to start of the arrangement in a more simple fashion.Ask for a loan in which he will get a stated return 6% to 12%.If you are both successful happy with this arrangement, upgrade to a partnership.I think a partnership off the bat makes things complicated.You will also likely make more money in a loan agreement if the project does well.