SFR in Metro Phoenix, AZ. 3 beds (plus a Den that could easily be turned into a 4th) 2 full baths, formal living room/dinig room, kitchen opens to another dining area and family room, 1270 sq ft.

Though I’m not new to investing, I am new to formally analyzing deals.

--Address--Appraised value--Condition of home6)Send a formal, typed letter to the owner (what address do we send the letter to?)

--Address--Appraised value--Condition of home--Ect...6)Send a formal, typed letter to the owner (what address do we send the letter to?)

I realize I never formally introduced myself after engaging with many of you and getting a warm welcome and lots of great advice!

The maintenance staff goes out to these properties daily & they send them in to the office staff to catalog, send to owners, make formal estimates, save for evidence in court etc....

Hello BPers.I'm looking into converting the seldom used formal living room into a master suite with private full bath. 

Thanks for the responses guys.So if I am understanding things right, my partner can bring the down payment, he can be the one on the loan, but we could still have a formal JV or Partnership agreement between us where we would split things such as interest deductions & depreciation as well as cash flow and long term capital gains '50-50'?

So in my state you have an inspection period after which there are options: present a formal "inspection objection" whereby you either withdraw from the sale, or request certain items to be remediated, or you ask for a cash discount so that you can remediate those items yourself.

An LLC is only as good as the formalities that are followed in the LLC.