Hi everyone, I am curious if there are any industrial real estate operators on here. 

if you have an LLC and both properties are under it, you just need 1 operating account.If both are under your personal, 1 bank account specifically for the rental is enough for operating.Security Deposits should always be a separate account altogether.

The team sport model is how many syndications operate.

Quote from @Steven Catudal: Hi all,I am looking to partner with a friend of mine to purchase some rental properties.

Quote from @Fiona Brown: LOL @Chris SeveneyHe has picked who he wants to deal with So I thought I would ask as I cannot find ANY reviews... and I have picked mine :) Which is you LOL as I found heaps good reviews for youWe have a call with your associate tomorrow for my pick at 10 am Not sure who we speaking to as 2 people have emailed the times Katie KlezekToni Shackelfordok, I am blushing... 

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

Don't operate under the, "we get along and can figure it out" mindset. 

If you're doing STR the first thing you'll need is the VLS license from the state, and that comes with the requirement of taking an 8 hour class.There weren't any of those on the schedule, but I need mine so I talked them into doing one in early February if you want to hop on that one. 

We operate in the DFW, San Antonio, and Houston markets, helping investors grow their portfolios with turnkey LTR properties.

There's a 40 unit building next door to mine which is primarily made up of section 8 and 24/7 security out there.