I submitted all of the necessary documents and have not heard too much, in terms of application status.

It's definitely not fluff, but representative of a place most overlook in terms of real estate investing. 

I plan to offer him above average ROI, but I want all other terms to be "standard" in terms of allocating risk and returns.The thought in my head for structuring this is that he will pay cash for a property, and then we will use delayed financing to get his money back.

- In terms of whether this specific property is a "good property for a first investment", it really depends on what your investment goals (and alternatives) are.

It's all mediocre in terms of appreciation potential.

Hi everyone, I am looking into starting up my real estate business with a partner we both are in experience but very passionate and committed in doing this.. what do you think should be our first steps in terms of getting access to funds (hard money lenders and investors) where to find them?..

As you can tell - we (the property manager and I) are still in the "learning" phase of this in terms what exactly is going on at this property.

Tyrone, In terms of documentation it may be difficult as some states require licenses and others do not.

So I would not think in terms of partnering, but in terms of meeting as many wholesalers as you can.  

This is a favorable shift in terms of supply/demand for landlords.