If you're looking to get started with a buy-hold strategy, I would recommend as your first step to spend a few hours every week scanning the MLS, or Redfin, or any similar site.

I think this is a good starting point for newer investors, but also think part of the reason some of the more experienced guys on here think it is a waste of time is because they can typically look at a deal sheet and know on instinct whether or not to spend the time analyzing the property further.To more specifically answer your question, I do not think you should make an offer on a property based on the 50% rule.

I understand the different types of investing and making profits without having to spend any of your own money.

Basically I'm looking to find the cash buyers/ investors looking to spend money on a flip.

We spent approx $20,000 so far on renovations and estimate we have approx $17,000 more to spend on renovations.The bottom line is we don't think we will be finished paying and doing renovations until March of 2016 so we have put all our cash flow back into renovating these 2 duplexes.  

I understand the different types of investing and making profits without having to spend any of your own money.

I hate to continue this LLC debate but it's pretty clear that 90+% of people here spend way too much money on LLCs with false hopes of protecting themselves and/or their assets (and most really  have no assets to protect anyways) because they read Rich Dad Poor Dad or any of a number of gurus books that bring nothing of value for the real estate investment business.

Many end up spending too much time in the bars it's so flexible. 

., resident in the forums.Click on the "learn tab" at the top of the page, and you could be spending many hours on the Information that is available.Raymond

matt did consider buying me out at the start as he wanted the house for him and his family.he eventually decided against for a few reasons.since I was leaning towards keeping the house as a rental,it wouldn't have really been fair to buy me out and keep it.then turn around and sell it in a few years for a Big profit,it would just create bad blood between us.we decided it would be best to keep it strictly business and both profit together.Also,another a big reason was that matts wife is sick of renovating the place and spending money on it,so she now hates the house and said she can't stand being in it now,and wouldn't want to live there....so I'm pretty sure that was a big reason as to why "they" don't want it :DIt is in a nice area and there are much nicer houses on the street than ours that are worth a lot more than ours...so I think if we we're going to sell,it would be worth doing it pretty nice.Thank you Manolo for the idea!