If you don't intimately know an area, you don't know that this subdivision is good and new and the one across the road is crap. 

Trying to address the needs of a group of individuals located in different states, with varying skill-sets, diverse levels of experience, and distinct (and often unstated) goals and objectives is a recipe for confusion, frustration and stagnation.Rather than combining your interests into a single business entity, I would urge you each to create your own individual entities and then come together, as needed, to take down deals that specifically require collaboration.At very least, I would suggest that, before spending even one minute on legal documents, you all come together as a weekly MasterMind group for a month or two and see how that goes.

Not likely, confirm with the town.I like vacancy at 8%, but this is super local.CapEx and repairs combined at 15% to be safe.Do you have to pay for garbage?

Hi Brittany,If your sister and boyfriend are willing to go on the loan with you the combined income could allow you to buy a decent house.

In these cases we take the entire households combined rental income into consideration.How is their credit?

“Best site” could be a function of location, size, price, capacity for development, air rights or any combination of those factors. 

Agreed, as we are combining finances and debts we have cut costs everywhere and became aware of what's going in and going out.

Responsible people with steady work and well behaved kids and pets rarely have 550 credit scores, and people with 800 credit scores and steady jobs rarely have dogs that destroy the property and crap all over the house. 

I may go for some combination, where I buy a property in a Sacramento as an investment, and some mobile trailer like Nathan mentioned for personal use.  

Combined sales price will be in the $810k-860k range (depends if I do remodel on of the homes).2.