I recently attended an REI meeting in Chicago & there were 1/2 dozen or more people who were looking for partners.Crowd Funding- Lots of rules associated with using this strategy but it works if you have the right deal & mechanisms in place.

@John Canchola If you don't live here in Memphis, and or if you don't have an experienced PM team in Memphis that knows how to manage the $15k per unit areas then you are setting yourself up for failure.

Like the mechanicals and roof.

After running through the beginners guide and picking around a bit, BiggerPockets seems to be a treasure trove of information.I'm a 27 year old mechanical engineer who bought his first house in June (who am I kidding...

You have seen more failures than success in out of state turnkey investment, that's a great source for us newbie too.

Real estate education has high cash flow because of a lot of the reasons you mentioned.Also, failure is fantastic teacher in RE, so there are many that do not have but still have valuable how tos.

Getting the mechanics set-up is necessary, but don't get hung up on it.  

I looks like a huge mechanical octupus in the basement and takes up all the usable room, not worth it.

I realize you are in FL which may change the mechanics of how one actually records a Deed or Deed of Trust but not the laws that dictate whether or not it can be recorded.

If you get in some situation where actions of any kind are necessary to force a member or corporate officer out, it will be an adversarial issue to some point, it is not a pleasant thing to fire someone and splitting the sheets in business is much like a divorce of a marriage.Now, if there is mutual consent, it can be easier, but it's still a divorce and both will be admitting failure of their initial intentions.