I believe I do this because I do not have a clearly defined WHY to look to during those not so smooth times.  

Define your goals and you'll find the right answer. 

You can have a straight partnership, in which you must have a partnership agreement that defines roles, but in that case all partners will be involved in the management and they will taxed at regular income rates.  

@Rick Roberson, it depends on how YOU define: "enough cash flow".

If you define your role as an asset manger you might open the door to new possibilities to joint venture with your tenants/clients and the surrounding neighborhood as well.Consider opening yourself to the a bigger world of profitability.

Stick your numbers, define exactly what you are looking for, explain what areas you will be looking for etc..Tell your agent, you will be making a lot of offers, they know your situation, rest is easier.You do not pay them as a buyer agent anyway.

My municipality defines a business as:"Business means a calling, occupation, profession, or activity engaged in with the object of gain, benefit or advantage, either directly or indirectly." 

I think the biggest issue is that he never clearly defined any of his policies (the devil is often in the details) but wants to upend a lot of existing policies which leads to the US not being predictable for both citizens as well as foreign investors as one of the reasons they're investing in the US in the first place is because of the stability.

Define utilities?

definately fill out a 1003 Mortg appStart with a 6 mo lease w market rentGive a ROFR w leaseTalk w their Mortg broker about Mortg BorrowabilityGet 12 mo bank statements pers and busCheck pers and bus creditGet 5 references, check him out!