@Suresh Kannan, it is very rewarding help people achieve their financial goals and be a useful tool for individuals wanting to learn more about real estate.

It does not give an indication for cash flow or cap rate.

While multifamily can be more competitive at times, the advantage of closing on one 16 unit acquisition versus 16 individual acquisitions is certainly an advantage in a competitive environment.

You may be able to pay this individual to leave - which is normal in your state - but what's to stop the next tenant from doing the same thing?

I am going to also ask this VA to have his uncle fill out the Independent contractor agreement indicating he is working for the LLC as a hired subcontractor. 

You will have to give the tenants the EPA required lead based paint paperwork anyway because its better that testing the whole house.I use mini-splits for HVAC in old houses--the ductwork will not fit through the crawl spaces and attics with all the room additions, so its much cheaper to put in the mini-splits and the tenants love having the individual room controls.For what you are proposing to do, you might as well just buy a vacant lot. 

Yet the single most important factor for a person who is working to escape poverty is that person's jobshed from their place of residence, and the single most important way of increasing a 30-minute job shed is to give that person access to individualized transportation--i.e., a car. 

So your monthly payment will be higher on a similarly priced home in Nashua vs Lowell (in your example).On the flip side, the Massachusetts markets tend to do better in downturns and recession, at least if 2008 is any indication…Other than that I think markets like Lowell and Nashua have a lot in common, in the multi family space.

I would like to partner with this individual and another financial investor and was wondering what a fair profit share proportion would be for the role of finding properties worth investing in for a flip.

On your note around if you should each buy individually, I always recommend this.