Partnering OOS with stranger
I'm considering partnering with someone more experienced to do BRRRRs out of state. I have no experience in this, but I am liquid enough to potentially buy a house for cash, or at least secure a loan to buy a more expensive home. If I team up with someone who I've never met before off of BP, how do I protect my money from the partner taking it and running off? And once the place is being rented, how do I ensure I'm getting my cut, or that the partner isn't paying for repairs that are unnecessary, etc?
Hoe does this situation change if both people are money partners? I'm just worried about someone running off with a lot of money, which seems like an easy scam to pull when you're investing out of state.