I don't have much experience with partnerships from a REI perspective, but general thoughts:* Make sure you both understand what you are each putting in and getting out of the partnership.

I love Portland and understand their sales prices relative to the rest of the country.When I flip, I like to look for a min 35% return on my capital after expenses.

In the mean time, I would focus on getting educated on every real estate so you can have a better understanding of it all when you get back and are ready to start looking.

@Ryan Andersen the most comprehensive guide to understanding, purchasing, and operating mobile home parks is from the Mobile Home University website (coincidentally authored by Frank and his business partner who responded to you earlier - he's not a self-promoter on BP so I will happily do it).  

Above anything else get a full understanding of what a true asset versus a liability is and then approach the market.

In my opinion investors need to have a good understanding on maintenance and repair issues, as well as what it takes to handle improvements. 

I'm interested in wholesaling in Memphis TNI know how it works and understand putting property under contract and not acting as the owner but I do not have a real estate license.

@Luis Roel I understand now, thank you for making that clear for me.

Also it is much 'easier' to be more demanding of someone that is not your friend / family.As long as you go into the arrangement understanding the risks; more power to you.Oren

That is tomorrow meaning, as I understand it as the buyer, I am free of my obligation to perform due to the fact that the seller has not completed their obligations by this date.