Specific interests include small apartment buildings (rather than older homes split into units) with 4-8 doors to start with. 

Make sure you include all costs - sheriffs, movers, storage, etc.Normally I'd want to know a lot more about the basement flooding, but since you've said it's a demo, I'd let it go and address it with drainage and/or french drains when you rebuild.Good luck!

Currently in the Dallas, TX area and would love any advice in getting started including good books etc. to further educate myself. 

Some of those include tax write-offs and increased return on your investment.

Get your lawyer to adjust the terms to include additional partners.Never operate any partnership without a legal binding contract.

I want to do the whole thing including the front and backyard , paint inyerior exterior etc.

Turn off all water faucets, including toilets, and water heater in the house. 2.

This ended up costing around $25,000 (not including loss of rent during this time).The painful part of this is that at least as of right now, his insurance is saying this is not covered as part of his policy.

These include bank accounts, stocks, bonds, mutual funds, and so on.

This share includes both cash flow and equity.