Make sure there is financial incentive for the contractor to complete the job and get the last draw.

All partners need to be adequately protected against circumstance but also just as often against each other.

I work in the financial markets and have always had a passion for real estate. 

My ultimate goal is to have side income through rental properties and to eventually reach financial independence.

But as reality sets in, I probably can't swing both financially at the same time. 

Most importantly I would try to get financial info from the association and make sure they are well managed and ask about special assessments above the HOA fees.

Ideally I would like to get started in small multi families and could be interested to an FHA loan under the right circumstance. 

Under some circumstances, a corporation may be appropriate.

This is accomplished because 1) you can buy real estate with pennies on the dollar, 2) the power of financial leverage (being able to refinance out your entire down payment)I currently own:-5 plex in Massillon -2500/mo -4 plex in St.

There are a number of them that could work, depending on the numbers and what the required financial exit goals are of the seller.