When launching a new listing I make it good practice to set these protocols in place so everyone is on the same page on when to communicate and response time.

You will be in competition with cash buyers who have no loan to get or any Govt regulations to deal with. 

I am now at the point where I feel like I need to take action whether that be networking, property analysis practice, obtaining a RE license, etc. 

Seems like this is not a common practice, but I am not sure why. 

I am going to be practicing analyzing house flips so I can pull the trigger on one, but I am not quite sure how to formally present the deal to a private money lender.

Hey AJ,In my opinion there is no “best” practice.

This way you can practice being your own property manager so you can learn while you guys live there.

I'll respond to each question.General note, your lease and local regulations will state the minimum notice that is required.  

@Gaurav A.One caution:Per SEC regulations - which are constantly under review and or changing - co-GPs must do more than raise or bring capital.

Right now the legal description of the 2 units are "789 CONDO UNIT A PER CDO INSTR# 123456789" and "789 CONDO UNIT B PER CDO INSTR# 123456789" where the instrument #123456789 is a recorded 87 page HOA doc including all regulations, definitions, HOA hazard insurance, HOA fee, voting, bylaw, site plan, survey, etc.