Ask your closing attorney if this will work: have the closing attorney prepare two deeds as part of the closing package, the first will be recorded with your buddy's name, and the second (recorded literally after the first) will contain a deed with you and your buddy's name on it.

Just because you buy a property for the cap rate value doesn't mean you'll hit the market cap rate.Just be prepared to walk away from a deal when the broker or seller says that the value of the property is net operating income  divided by cap rate, and you try to explain to them that you have to hit your ROI, but they won't budge.Moving forward I will tell the seller or broker that I care more about ROI then cap rates.

Usually when someone gives an estimate like it's their initial "sniff" test.

I'm going to have some 1031 funds here shortly and would like begin researching the area to be prepared. 

Well time tested that the best deals are done driving for dollars....So you can use an app called Deal Machine...right on the spot to the point where as your parked in front of the property you can send out a post card...

If you want flexibility and are willing to put in a little bit of time to learn how to invest in passive syndications, then maybe the Lazy 1031 will work for you.The retirement decision is one that only you can make - but taking steps now to set yourself up to retire in a few years is prudent because you can always change your mind and keep working, you can't change your mind and go back in time to prepare yourself financially for retirement!

Easy to test, if your installation is working using real time read portal etc.Good luck.

Just FYI there is a ton of institutional capital chasing multifamily in Texas so be prepared to bid competitively.Always do your own underwriting.

Tested business plan in place with the renovations.

You are clear to foreclose without delay although you should prepare to oppose the debtor's motion to impose the automatic stay.