I'm grateful for my business partner for contributing not only to my professional success but my physical existence as he's my dad.

My basic format includes the following:Executive Summary (written last) with property info, deal points, and investment summaryProperty information - location, physical details, amenities, photosFinancial/investment information - competitive properties & their performance, comparable sales, operating projections, sources & uses of funds, cash flow projectionMarket and sub-market information - demographic information, demand drivers, existing & new supply, area amenitiesSponsor information - summary about your platform or investment strategy, short bios on the principals, existing portfolio, case studies / track record (if brief - may be delivered separately)

My question is, what is the best and most efficient way to collect rent without making the drive down there to physically pick it up?

Sorry for the longwinded back story: Do I need to offer her my physical address and can she insist on mailing rent, when she can deposit at any Wells Fargo?

Ideally, I will only have to physically be at the house if I feel like doing some work.

THis is important because it tells the investor how quickly (and successfully) they can move their (cash) money through their investments, and how long it will take for them to recover their cost (what they physically put into these deals...in cash).When you are looking at return on your dollar, your mortgage payment (any part of it) shouldn't be included at all if you have positive cash flow. 

This is because they may subtract from the maximum they can lend to you a) because you could well be considered an investment property newbie and b) if this is indeed a cashout.We for instance would subtract 10% from our loan caps for the first and at least 5% for the second and the likely remaining 65% of LTV might not be sufficient to meet our $75k minimum loan size.You should also make sure whatever HML you use is comfortable both lending on the type of condominium this is and in the State of Hawaii.Aside from HMLs, there are also true private lenders (though the trust issue that you seem to have still applies to them), also some lending institutions that fall somewhere between conventional and HMLs.

For example to become a licensed broker where I operate (Ohio) you need to go through government background checks, have worked in real estate as a sales agent under another broker for at least 2 years, have a college degree, have a physical store front with office hours, have done at least 40 transactions and much more that I can't think of off the top of my head right now.

So it all depends on what each party is doing ie; who found the deal, the financing and so forth.Thanks,Sue, You may very well be right, as you stated, the original post is not clear and I took it as they both share in the money, unsure who finds the deal, sells the deal, and everything in between other than construction.

I summarize the under writing and business plan but I reccomend you read some books on the subject to gain a more in depth understanding which will go a long way in helping you build your portfolio in the future.I start my business plans with market data.You need to find out the following about your market/ sub marketAverge rentsAre rents trending up or downIs it cheaper to rent or own a home What is the median income in your marketWhat is the average occupancy What is average appreciation in your marketWhat are the laws that may apply to your rental investment in your area ie rent control, optional property tax increases.Once you know these thing you can get a good idea as to the supply and demand of rentals in you market and start to make educated assumptions about how yours will perform in the future.Next under writtingFirst understand real estate investment is primarily to things rolled into the same investment firstly an asset( the physical building and the land it sits on) and the business in the building (the tenent/s, cashflow, expenses, and managment.)Not all business make money, and not all investment are winners it's you job to make your business/investment make money.