If it doesn't work out, you pull the ad and revise it to reflect the completed work. 

If your plan is well researched you can work out kinks along the way.

We have built a very strong track record with our bank and we have a great relationship with them so they financed the purchase and the rehab costs as a construction loan.

I have a joint venture agreement I can send you that we use with our money partners, it can easily be adjusted for the terms you are seeking but it will get you on the right track as far as what you should be looking for.IF his numbers are correct, you are all it at 74%ARV and on such a small deal, that is really not a lot of room.

I think a first flip has enough challenges that I suspect a first flip OOS is likely not going to work out that well. 

Hope things work out for you!

I currently own 3 properties and I am quickly realizing that I don't have the proper systems in place to keep track of who owns what with regards to cash flow and revenues.

Best,Alice Make sure your partner has experience and a successful track record flipping or doing renovation work before you partner.  50/50 could be a fair split if everything is as you describe.

Tracking all that the MLS is definitely not one of the first places people should look to for deals as it is more retail as you alluded to.

An investigator to track those people?