If he's a fellow member of the LLC then you'll want to be sure your membership interests are in relation to the capital you are contributing unless you're doing a complex deal where services are contributed instead of capital. 

I know that all of this is very relative to the location, the properties invested, the perceived risk etc, but Im starting to look for private money on short term investment loans (so I can BRRRRR them) in which I will refinance and pay them off. 

I can't speak to their pricing relative to other plumbers in the area since I haven't really shopped around, but I've had them out to my house a few different times and their employees have always been great.

Relation How did you finance this deal?

That is the KEY, having an awesome deal allows you to go to family/friends/investors and show them how their investment will get a solid return with relatively low risk. 

If annual maintenance can save me from replacing the deck in 7-10 years, and is relatively inexpensive, then I'll consider buying.

I'm targeting properties in the $100K - $200K price range, with the intention of using traditional mortgages for financing.From the outset, I do not plan to set up an LLC; first, because I don't think most banks will lend to an LLC, and secondly because I don't think such relatively small investments will arouse the attention of ambulance-chaser lawyers. 

@Sarah Buchanan reasonable is relative.

Income is directly related to social standards in most cases.

Hey Andrew,I have relatives who are also real estate investors from California.