I know you're in St Louis but here in the Cleveland market (as mentioned) people run into this issue frequently.

I have a suspicion most folks who own rentals in this area do it as a way to 'stay free' on their frequent trips to Disney, and that the numbers just aren't that great, but I'd like to hear from anyone who has experience.

@Kyle PareYou may want to reach out to @Linda Weygant as she is located in Colorado.She is a frequent contributor on Biggerpockets.She was also featured as a guest on the Biggerpockets Podcast.

Create a detailed operating agreement that includes how you will go about handling as many different scenarios as humanly possible (like how to address if one partner is not fulfilling their responsibilities, what happens if one person wants to sell and the other wants to hold, how frequently you will review the finances of the operations, among many other things I would recommend chatting through.Hope this helps, and I'd be happy to connect to chat a bit more specifically through your situation. 

I am in Houston and travel to San Antonio frequently, it's about 200 miles away.

Legal and ethical issues arise frequently, and are commonly encountered in certain fields such as medicine, healthcare and politics.

@jill sodoti is a frequent contributor on the thread with good insights on entity formation.

The down side  is that they are usually based on 25 year amortization (so higher principle payment than on a 30 year loan), and the rate lock is frequently just 5 years, so it will reset to current rate every 5 years.  

And in most markets listing agents will not double end deals and are instructed by their brokerages not to do that because of confict issues.Sellers can also in their listing contract specifically state they will not entertain offers of a certain amount and do not present them.. in that case listing agent can follow their sellers directions.I was just at a Guru event and that was a question that the audience brought up for the guru how the heck do you make a bunch of offers..

Don't let the 9-5 discourage you, this entire site's targeted audience is the average joe making 50,000/year (give or take), who wants to be financially free quicker.