One partner has proposed the following and I want to make sure that from legal and tax perspectives it all makes sense and is legit.. 1.Form an LLC where three partners would each have 1/3rd interest.2.Transfer the property (title) to the LLC via quit claim deed for some price/consideration3.He would buy our shares/interest in LLC so he ends up with 100% ownership4.Mortgage would continue in my name and I would remain the Garantor (he will pay me some fee each year to keep it in my name).

I was going through this old thread and a wholesaler noted that she sells at her contract price with no markup, but a 50% profit share. https://www.biggerpockets.com/forums/93/topics/174983-virtual-wholesaling?

Does anyone have something that you use when you're walking a property for the first time you'd be willing to share?

I am also looking forward to meeting other Bigger Pockets members so we can share information and help each other to continue our growth in Real Estate.

I have three points that I would share.1) Make sure that you research the areas that you are going to invest in thoroughly.

Would you share some pointers?

I'd say get in touch with a Realtor now to start sharing your needs and begin looking.  

Thanks for sharing,Hector

Hi @Collin Schwartz I have 2 main goals at this time:1) Network with like minded investors in the Metro Area to share ideas and best practices with.2) Identify key partners where I can leverage some sweat equity for equity share right now and when my own capital is freed up, a partner that I can invest with and split the work.#1 is of highest priority to me, #2 will depend solely on the relationship that is built and the deal at hand.Thanks for the reply.

I am wondering what are your thoughts on these co-living start ups and how would one structure a profit sharing agreement with a landlord to start something like this?