How do I get involved in a partnership?

[Filipe Pereira]

Newb question here - forgive me - 

I've found what I think is a pretty solid deal for my area. It's a 4 unit property in East Hartford, Connecticut (let's call it Property B). It cash flows pretty well. I'd like to buy it, but my money is tied up in closing another deal in the area (Let's call it property A). I've been talking to the owner of property B for a few months (it's a non-MLS deal) and he says he wants to see a track record of landlord success (over a few years) before he'd be willing to owner finance the deal for me.

He said he would consider selling it to me outright, but since I am closing on Property A next week, I don't have the 25% (%50,000) to fund property B through a conventional mortgage. This would take me about a year or so to generate. Because I am interested in getting the property sooner than that I am considering having someone else come on the deal with me...what's step 1 in getting the process started for a buy and hold partnership?

Thanks!

[Filipe Pereira]

It is more that he wants to have a relationship with the eventual buyer and see how they have done business over a multiple year  period. He won't owner finance to any ole landlord if you get what I mean.