Find deals with larger # of doors and get other people involved.

Set expectations and get the town involved early.

Many don't due to the liability involved. 

I'd only get involved with flipping if you can handle the risk and you have a team who is able to get it done in a timely fashion.

Thanks and looking forward to getting more involved in the BP community!

Without knowing what the loans would be from him, the interest rate, and the potential profit, it makes it difficult to really judge this agreement.However, based on everything but any potential loans now and in the future from him to you regarding the cars, I will give you the following analysis:1 - Your cost will be $150k (the cash DP).2 - Assuming no cars are involved, based on the projected yearly CF of $18k/year, it will take you over 4 years to reach the $75k in profit you will get before he takes any share of the profit.3 - After you get your initial $75k, you will be getting $37.5k (your half) in CF from then on. 4 - Since the first $75k recovered half of your $150k DP, and you will be getting half of that after that, it will then take you a bout 9 years to recover the other half of the $150k you paid in cash. 

(No separate meters for the 3 living areas)We are already owners of a much newer rental property so this is definitely a much more involved decision.Thank you!

However, far to many new to investing get caught up in the need to form a team instead of finding a deal and get the ball rolling Having never been involved in any lawsuits in 30+ years is a function of doing things the right way for the most part.

Currently looking to get more involved & network with more people, as well as learn from others & i would love to join a club here in Los Angeles.

Sorry I could keep going as this is What I Have do for 30 years This is My current field of work.With out seeing the property or knowing all Linear feet of all materials and depth of utilities and soil conditions, equipment and personnel, import/Export, Subs, just to spit ball a price is not possible.there are so many more things that are involved with what your asking for.