How to partner on a large deal

[Ray M.]

I'm interested in collaborating with others to invest in a 16-unit multi-family property, which looks promising based on initial evaluations. While I have experience with single-family homes, multi-family units are new territory for me. That's why I'm keen on joining forces with those who have more experience and local knowledge in this area. I've already reached out to gauge interest and received some positive responses. I'm seeking guidance on key aspects to be aware of in such ventures, knowing well that this advice will offer a broad overview rather than intricate details. Specifically, I have two questions:

1. What are effective strategies for assessing potential partners?

2. What are the various frameworks or approaches to structuring a partnership that is beneficial for an investor like me, as well as appealing to someone who brings in specialized expertise or property management capabilities?