Groups will do this for legal protections.The sponsors are then commonly the people behind this entity GP and are defined.  

It is either a repair or an improvement as defined by nature of the work, not what you label it. 

Do someresearch and clearly define what you want and the best path or strategies that can get youthere.Goodluck and go make it happen

@Brandon Staines,I will suggest you define your criteria and make an offer on every property that meets thesecriteria.

You also need to define what happens in the event of a breach on the part of any member.

Have you defined this yet? 

This shows total lack of budgeting and is a sign they will only fall further behind with more excuses.5) Have a defined eviction process, but allow 3-5 days of flexibility for inevitable slow-pays.6) Find handymen that live in an area only 1 Class higher than your property.

If you have an unrelated partner that you want to make this first purchase with, then MAYBE, you should consider an LLC, or have a lawyer draw up a simple contract defining your business partnership between the two of you.

It would be interesting to know:- How do you define roles and responsibilities?

Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac.