I think you need to get defined.

A better way for you next deal is to do more research about a property and define the cost need to fix to rent or flip whichever you choose.

Finally, a "pre-existing relationship" is clearly defined.

For purposes of this post, I would define a "hot" market as markets that are in the top 20 in this chart.

It meets all your listed criteria, but for example in Oregon, average number of cloudy days per year (defined as 80-100% cloud cover averaged over the daylight hours of a day) ranges from ~160 to ~240, mostly based on how close to the Pacific you are and whether or not you're west of the Cascades.

I looked here https://www.irs.gov/pub/irs-pdf/i1099ac.pdf and read  the following:"Debt Defined A debt is any amount owed to you, including stated principal, stated interest, fees, penalties, administrative costs, and fines.

Spent all day Wednesday reading through IRS docs and and Google threads educating myself before coming over to BP (which should have been my first stop) and tripping across your post which almost exactly defines my situation also.  

There's a defined shortage of units in that price range, and I think that the money to be made in that market is in building, rather than renting.With the higher end homes in Raleigh though, they sit on the market for a couple weeks and sell for less than list.  

Dan, the good news is a partnership can be structured in a way that let's everyone win, the hard part is defining what each party needs for a win.  

@Anthony Gayden Thanks for the advice, I will definately get a few of his books soon, just been reading other books & got other things Im working on.