I guess I am just not clear as too whether the proposed equity split is fair.

Oregon is 10 in the country for fewest defaults and highest credit of borrowers for homes.. wholesaling would be extremely hard without major budget and you defiantly need to be licensed to sell property you don't own.. state will get all over you if U try the tie it up put it on craigs list or have a website or blast e mails.. one complaint and your toast in that regard.. you need to have your financing lined up so you guy then resell.. flipping is alive and well.. but again much much bigger dollars involved than in GA ( at least most parts of GA... its like working the expensive parts of ATL price wise.although you can still flip in the high 200 to mid 300 range but there is virtually nothing at or under 100k to buy .. lots sell for 100k and over.. rural Oregon will have cheaper properties but much harder to sell with lack of buyers.. but one thing is for sure  if you do a nice job on a flip and price it right it will sell in 2 to 4 weeks at full price and you don't have to worry about folks getting loans and such.. this is not a credit challenged area like much of the deep southas for paid trainers there are good ones and there are tons just selling rehash of those that came before them remember there is not very much that's secret or knew in this industry other than tighter regulations and most guru's are not worried to much about tighter regulation as it cuts down on their conversion rates to the mentor programs as noted above.

I see how that is not clear.  

I hope I am clear in this description and am I missing something here?

I am three months in to looking at properties, finding one, negotiating the deal, getting under contract, clearing inspection items and seller credit, getting the lender appraisal, etc etc.

Your post isn’t very clear as to what you’re asking besides needing a JV partner?  

@Taylor Hazard Just to be clear, Colorado has bad soil as well.

Just to be clear when you refinanced 75% of the appraised value equaling $41,250) You paid back the first loan of $35,900, leaving a remainder of $5,350 in your pocket correct?

[I mostly want the experience and I would be willing to take a smaller cut on the pie]3) Oddly enough the agent just text me and tells me that this is owned by the bank and there will be an auction for the property this Wednesday 11/22/17.

Thanks all, Still some points are not clear to me.e.g. some Company which installs shower panel & Door which includes parts and labour and they gave us invoice and we paid them using credit card or check so now do we need to issue them 1099.