I mean, in terms of real estate, how bad are NINJA loans (No Income, No Job, No Asset)? 

Consider house hacking when rates and prices are a little more balanced with reality.I would prefer a duplex/triplex but I know getting into a single family home and renting out the rooms is more accessible .

while I totally understand the frustration especially purchasing what was supposed to be a new and ready to go asset, but these things are pretty common so don't feel to discouraged. 

They might not be great for cash flow but might be great for long term capital appreciation especially when you use leverage.I’d rather own a $1M asset that breaks even but appreciates consistently by 3% than own a $100k asset that cash flows $3k per year.There’s power in investing in or near your backyard.  

You and the other posters here have been generous in indulging me in this exercise of considering this "partnership" / BRRRR, but demonstrating that we can invest successfully on our own power before seeking out partners is not only my strong preference but just sound business logic.As a new investor my head starts to spin when I start to think about investing, and the many gaps in my knowledge reveal themselves: how to structure a partnership? 

It simplifies the process since Zillow handles credit, income, and background checks for a small fee paid by the applicant.Background Check Services: If you prefer not to use Zillow, consider using services like MySmartMove or RentSpree.

Would prefer newer books that are still relevant if that matters.

We have a 650 minimum , but prefer 700 

I prefer public comments here before you send a direct message, though. 

Taking the loss now is preferable to paying out monthly for the privilege of being a landlord.