Looking for someone who operates in Georgia.

Lot's of influences along the way to get to where we are now and how we operate.  

and patch on the ceiling (HVAC Re-route)- Master Bathroom( plumbing - shower stall not properly installed and leak going down to crawl space, cabinet not secured to the wall, GFCI not grounded, faucet aerator leaking)- Kitchen (damaged vinyl, exhaust not working, very dated kitchen but I think I can salvaged the cabinets and just replace the tile countertops)- Ceiling fans are not operable and missing HVAC registers.- Garage (moisture stains, wall damaged, laundry hose bib leaking), partially converted to a room.

And, there are several well known wholesale operations in the DFW area who consistently cherry pick comps to support inflated ARV's.  

Real estate is a business, and if you are in business you should not be operating in your own name -- unless the law requires it, such as for certain professionals like lawyers and doctors who society feels should not have their professional liability limited.

Size and scope of operations needs to be considered.

It helps to understand the many ways investors calculate ROI and the definitions used such as capitalization rate, net operating income, debt service,  cash on cash return, etc.In your question you use very broad numbers.

. - I think that there's somewhat of a consensus that you may find that you have underestimated operating costs for this thing.

I've checked my offer contract from when I purchased the property and the following clause was specifically added: "At closing, seller will assign all leases,transfer all security deposits and rents and provide operable keys to buyer."

Although this partnership is a good fit on paper, I would highly recommend that one's partnership somewhat compliment your personal investing style.Sometimes, that polar opposite creates a good balance; but also it challenges.I am providing this post mostly to share my personal observations and also, because there are equally as many request seeking partnerships and funding.For those individuals, I submit that that partnerships with colleagues, family and friend inherently involved possible nuisances in operating style, priorities, and realistic timeframes on the amount and division on your net return of investment.In summary, think, plan and have those discussions prior to forming your partnership, funding etc...these are just my thoughts in hindsight.