If it's a really great deal go ahead and lock it up with as cheap earnest money as possible now to get rid of competitors so it changes to pending status.I can guarantee others are looking at it right now and running the research you are as well.Get it locked up cheap and then do most of your research in your due diligence period.If you find you do not want the deal you can always assign it for a fee if allowed or bring in a partner to help with additional costs that is discovered or you can negotiate the price down further.I see it everyday where an investor does too much upfront work and do not get it under contract and lose out to someone else.

I am wondering how i go about making sure that if something happens to me, my rights will go to my wife and not my investment partner?

This entity is likely taxed as a partnership with the partners being entity 1, you, and any other partnersThis segregates your "income" entity from your "assets" entity.

When judging credit worthiness of partnerships do banks basically add each partner's debt and income together to determine debt/income?

I haven't ever done it before, but one of my partners has done it a few times.

Maybe start off as a partner with someone very active (proven track record) in your target market.

If it makes you feel more comfortable, you could always add a contingency that states " This contract is contingent upon approval of my business partner" or anything else you want to say.

My business partner and I are hungry young investors seeking advice, on any topics ranging from taxes breaks, insurance, business credit, financing, asset protection, etc.

From a company could be many reasons, to set up financing, split off to a partner who left the company, deed in lieu of foreclosure where the company failed to make payments....Ignore Quit Claim deeds, they are not sales.

Best to minimize the risk by partnering with a trusted and experienced rehabber and pay him 50% of the deal to help you complete this one successfully.2) You need a team (contractor, rehabber-partner or both) to analyze the repairs AND the ARV (After repair Value, NOT AVR) to see if the numbers given to you by the wholesaler are in fact accurate.3)You may want to work a second job or start with wholesaling first so that you can come up with enough money (10% of project costs?)