If you are just starting out with a few houses there is absolutely no reason to skip out on the ability to finance a great little portfolio because of liability fear.

Anyone on this thread want to meet up next week for breakfast/coffee or dinner/drinks and discuss what we're up to, where we're looking to go, and how we can help one another?

If they say "no" tell them you'd be willing to look skip trace their returns (mail rejected and returned to sender) in exchange for a fair finder's fee if any "dead leads" become deals.

I am one of those guys that skipped the partner piece because I do not trust them (them being anyone), so my opinion might be biased but... to me giving up over half the equity seems insane!  

After some breakfast in downtown, I was picked up by my real estate agent/friend to check out the property.

Alex this is simply landlording  does not matter how you come about it or where you choose to do it.houses take maintenance  they take effort to keep on top of .. .tenants trash places.. tenants skip on rent etc etc all of this effects the bottom line.. no matter how you bought them where you bought them etc.Just think of those poor investor who flocked to Houston and have no flood insurance.. they are about to get totally wiped out.. never will be able to recover .. as cash flow will never equal there loss's or it will take 30 years.. how was anyone to know that was a poor investment at the time.. 

Don't skip this step, as it is critical for banking, obtaining loans, and for defining the terms under which you and your partner dissolve in the case of a disagreement. 

If you have a budget direct mail driving for dollars and skip tracing to me are the way to go.

If we are getting >10% yearly ROI passively from the rents on those deals with little to no work ( Skipping the Rehab part) , then what cream are we missing?   

In a former life I did some skip tracing, was able to locate mugshot and arrest record.