The ability to pull your money back out after the refi is largely (or solely) dependent upon the forced equity you create.

Should I make him a partner in my LLC, or create a Limited Partnership between him and my LLC?

Kind of sounds like an industry created certificate...the best they can do if no lobbyist to push creating a law to require certification to rehab burn outs.

I'd like to introduce myself and meet other like minded individuals looking for a reliable, trustworthy, and ambitious business partner.On the side of that, I love cycling, fitness and technology (as I work in IT).

Once that has been accepted, the seller and their attorney create the contract and send to the buyer for review/signature.

Would we be better trying to create a few storefronts?

The recent flood here was very devastating but does that create opportunity to investors??

Should my LLC partner with him as an individual? 

I'm planning on the buy and hold strategy while creating passive rental income.  

The main thing is finding a good deal and creating enough value in some way to warrant the increase.