I've explored a few potential partnerships with members of BP, and that shared passion for real estate that draws us all here is an amazing momentum builder in and of itself.

Looks like a win to me at every possible angle.Secondly, I suspect you'll find that your 2nd and subsequent BRRRRs will lead to similar if not better results so you are well on your way to a successful real estate investing career.The question I have for the group is what Return on Equity do you look for on your properties if you are using the BRRRR technique.  

Finally, REI and stocks are slightly uncorrelated so holding both allows flexibility in which I draw from when.

You’ll need to be creative and have an attorney draw up the document.  

Figure out the money mistakes and account for them; you can take them as a draw or 1099MISC, but you have to account for the money and report it out on your financial statements and your taxes3.

Work on your ironclad leases, research the materials, colors, finishes and other choices you are allowed by the builder, draw landscaping plans, make this 4plex the best it can be in your budget range. 

I’d tell him that you want cost breakdowns because your bank is asking in order to make draws against your loan, and a schedule for the same reason.

I said "let's talk to the guest a bit more and go and actually survey the scene before we go drawing any conclusions." 

Had a really big spike in 2017-18, got way overvalued then subsequently overbuilt, but inventory cleared and the overwhelming buyers market is starting to give way.

With the new laws you probably won’t spend a ton on permits but setting up utilities alone can get pricey not to mention architectural/structural drawings.