Define our expectations, walk away if it isn’t the right fit and when both parties are in agreement, work with a lawyer to draw up partnership contracts.

One of the nice features is that you can define locations like addresses where you have properties, the usual stores or services centers that you frequent, etc.

Second is you need to qualify and highly define WHAT a qualified buyer is.Lot's of people calling themselves buyers out there but are clowns.

It doesn't define what you should pay.  

@Shannon Lloyd I think part of this would be to define "enough ROI to get me started as an investor".  

Hi Ivet,From your profile it looks like residential is what you are focusing on.You might want to further define what you are looking for like a duplex to quad to live in and rent out the rest of the units or if you are trying to buy a rental only.If neither you may be wanting to fix and flip to build capital.Welcome to the site.

I certainly know such information doesn't define success and markets play a huge role but just curious how risk adverse other investors are by sharing such information?

@Joshua Davies Great advice Joshua and yes definately not using all my reserve to throw a hail marry!

Echoing the geometric axiom "The whole is equal to the sum of it's parts", I learned a long time ago to employ it when it comes to analyzing and striking a deal with the following advice: Never agree to a defined piece of an undefined whole.In the current case, this means don't agree to the terms and conditions of a hard money loan (or any critical variable of an investment) without fully understanding the cause and effect of all critical deal points and variables.

It offers no benefits only drawbacks.If both are active then a strong operating agreement should be drafted and a lawyer consulted to define who is responsible for what.