[mudman]

A partner and I have decided to get into a few properties together. We are looking at homes we can buy cash, put some work, cleaning, etc into and have rented out quickly. I'm a Jack-of-all-trades (except I actually know what I'm doing most of the time) and have plenty of 'spare' time (more if I can make this profitable). Finding the right houses isn't proving to be too difficult, but getting facts on rental laws, right/wrong way to formalize our partnership, right/wrong way to do business has been tough.

We're looking at cheap stuff all around Oakland County, some in Flint, too. There are some very solid homes going cheap right now. My partner (blood relative, very cool, no worries about not being fair) is fronting all the cash, I'm doing labor, management, maintenance etc. She is in WA, but lived in MI for a long time.

Give me anything you've got. Your BTDT stories, links to informative sites, tips on getting a CCW will all be helpful. We're working on a counter offer on one property now, and hope to have a few up and rented by winter.

Thanks!
-Jeremy