Do NOT just treat this like, "Hey, let's go find some houses and flip them together to make some money", because that is not a plan or an actual business and is likely to lead to a damaged relationship with your friend.Good luck to you!

But to me, filing for my LLC was my reality check letting me know this was for real. 

On a Tax deed you are actually buying the property at near retail price in most cases.

I actually use the TREC contract as a positive to get people to sign without delay.

@Tim SchroederIdeally you would like all the information in one place(which would be the accounting software that you choose).Being able to get a snapshot of what mortgage balance, income, expenses, equity in any given period is great.However, in reality, you only need to put in information that you find will be useful to you.Income/expenses are a definite since you will likely use those figures when you file your taxes.The other information such as asset cost, equity, downpayment provide you information that you will likely only find useful that in reality - you can possibly get by looking at a mortgage statement or such.With that said - track information because you need it or find it useful.

I am actually going to school for nursing but I am a bit obsessed with real estate.

I’m actually about an hour east of Cleveland Ohio in a small town, and go to college in Youngstown.

The email address he responded with is an actual address (not one of those weird spam ones).

You actually brought up something I've been really been considering for a couple months.

I figured it out pretty quickly, as the house the person was trying to rent was actually for sale by the actual owner.