Garrett Sutton has some decent books on LLC creation (e.g How to Use Limited Liability Companies & Limited Partnerships) .. .and the more you know about where you want to be, the less time you will spend on legal costs covering things you should have already explored.I am all for legal advice.... just pay when you really need it, rather than for general information.

Having a business partnership/relationship is serious.

Don't ever put numbers in writing to give to them to walk away with, that can be construed as a guarantee or representation.When speaking to others I'd say "your money" not your investment or shares, those are security terms, avoid making your deal sounding like an investment or partnership unless they are really going to be a partner by agreement.You'll also find that a much lower key or under the radar ad that informs rather than pitches will be more successful with those with money, if it looks like you're making a claim as to some return, most likely it will go to the trash quickly.

If you plan on implementing a buy-and-hold strategy it gets a little more complicated, as everyone would have to be in agreement as to when the portfolio will be liquidated (and the future market may make this more difficult than you forecast, always be aware that there are many variables in play and you should have MULTIPLE exit strategies) or how the cash flow will be split once you move and can no longer be as active in the property management as your partners.Be sure to discuss what elements will be included in your Operating Agreement, and what business structure you plan on using (partnership, LLC, etc).

I'm also open to partnerships on projects that may be to much for one person.

Are they getting equity or cash each month, also how many partners did you have on this deal.I guess since I'm on the subject how does your partnership work in regards to this property, do you get to make all decisions or do you have to run it by your other partners.Great info by the way, which I first should have pointed out, and again thanks for sharing.

The federal securities laws define the term accredited investor in Rule 501 of Regulation D as:a bank, insurance company, registered investment company, business development company, or small business investment company;an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;a charitable organization, corporation, or partnership with assets exceeding $5 million;a director, executive officer, or general partner of the company selling the securities;a business in which all the equity owners are accredited investors;a natural person who has individual net worth, or joint net worth with the person

Join in a partnership with me here in Houston.

The results will be legally drawn up agreements for your use.Moreover, every investment, partnership, and individual is unique.

My partner and I are looking for software that will analyze all aspects of a rental property. I have found several different ones that I like but, we both need to be able to have access to "said" software on sepera...