However, as a California owner, you should consider the tax consequences of your decision.

Basics of the partnership:- All the properties will be in my name (I have the high credit & W2 income)- I will be investing $25-50k per year of my own funds into the business to buy more property- My father is in an all cash business so the idea is he will be getting his money in via renovations and ongoing maintenance/CapEx - I will be responsible for all the "white collar" tasks and hold ultimate decision making ability as everything is in my name- He will be responsible for "blue collar" tasks; finding properties, coordinating with contractors, etc..Our goal is to build cashflow for a 10 year period before we would every need to start "taking" the cash flow out of the business.

If you have cash, and the ability to look at a property and make a buy decision in 5 minutes, then any realtor will bend over backwards to help you.All the above if you ever get into real estate investing.

I actually moved up this way many ‘moons’ ago from just outside NYC and I haven’t regretted the decision other than the damn 6 months of winter, Lol.

First let me point out that anyone with money isn't going to make a decision based on a website.

Just wantt to make sure I am not missing something on such an expensive decision.  

So in that case, is it a poor financial decision to only utilize this once, with the mortgage insurance and everything?

Hands down best decision I made.

@John Spellman, hi and welcome to BP.The Fair Credit Reporting Act (FCRA) gives you the right to dispute any item on your credit report if it is incorrect, outdated, or fraudulent. 

- responsibilities for day to day running, in all relevant areas of activity- tactical decision making (day to day)- strategic decision making (longer term policies)what things can only happen if both parties agreewhat will happen if you can't reach agreement on some major issue - ie deadlockWhat happens if either party 'wants out'?