Forming a partnership makes each partner equally liable for all the other partners - - check this with your personal attorney for ALL the details.There are two reasons for legal entities of any form:to define the relationships between the parties and the economics of the entityto isolate ones personal life from the professional activities, including liability of the entity from reaching back into your personal life/assets.

Excellent.

Sully,The only real way to know what the ARV for property is would be for you to form a relationship with a local appraiser and let them know that any home you purchase they will get the appraisal.

Use Excel or a financial calculator to calculate the P&I payment.

If you have a good relationship with a real estate agent/broker, you can have them search the area for listings that have sold with cash terms.

Just have a good relationship with a local appraiser in your area and tell them that if they help give you the arv's that they will get the appraisal job.

Looks like an excellent deal:With the simple analysis:Rent: $2400Expenses: $1200 (50% rule, see Rental Property forum)NOI: $1200Payment: $699 ($105K, 7%, 30 years)Cash Flow: $501Cash Flow per unit: $167Very goodAnalysis with your down payment $18,000, and assuming you pay the rehab costs out of pocket:Payment: $379 ($57K, 7%, 30 years)Cash invested: $50,670 (including closing costs)Cash flow: $821Cash on cash return: 19.4%

Wordpress is excellent as well, but overall, it depends on what your needs are exactly.

Corey,I have a relationship with a local appraiser who gives me the ARV so when I sell it and it needs to be appraised he will get the job.

The attitude that agents are doing something wrong by representing the interests of their clients is often based upon not understanding agency and client/customer relationships.