Lots of knee jerk reactions to one thing or another.

Do you have money that you can bring to a deal and joint-venture with another flipper with experience?

I just wanted to highlight the element that people need to not look for big construction projects, but instead look for cheap deals.I started with rentals in war zones, and spent far to many cold winter nights knee deep in raw sewage and flooded basements to count how many mistakes I have made over the years..

If you want to take your chances, you first need to get updated applications from both, confirming their current income sources, and running credit reports to see if one or both are maxing out their joint credit cards.

A thought would maybe be to sell the property to a significant other or family member as a multi-family and then jointly run the property.

Used so much joint compound the cabinets didn't fit when it was all done. 

Do you have money that you can bring to a deal and joint-venture with another flipper with experience?

Before you dive in deep like I did, I would recommend some sort of internship or joint venture with an experienced investor in you local area to develop your systems and team management skills.

Under the "Howey Test", a transaction is an investment contract if: It is an investment of moneyThere is an expectation of profits from the investmentThe investment of money is in a common enterpriseAny profit comes from the efforts of a promoter or third partyIn other words, if you are putting together a deal in which people are investing their money (rather than donations, or contributions to a charity), and the money is "pooled", and the only way your investors make money is from what you do as the "Promoter"/Deal Maker/"Sponsor", than it probably is a security, and it probably needs to be registered (at the state, and possibly Federal) level.On the other hand, if you are getting a group of people together, and your are jointly putting in money, and "other services", and equally sharing in decision making (so it's not "all on you) then it may not be a Security, but is more than likely, a Partnership.  

My partner and I are lining up our first joint deal.