Legal Structures

[Jose R Torres]

Hi, 

My question is...how do I set up a partnership with a family member that is willing to come in strictly with the cash to acquire, rehab and sell a property? I know this question could have many possible answers. Specifically, if I set up an LLC to buy the property and rehab it...How the private lender interest are protected from possible lawsuits? I want to include the rehab costs and holding costs in the loan ... Can these costs be included on the promissory note and the title lien? Please, I don't expect anyone to answer all these questions but if you can give me some guidance on any specific question I would really appreciate it.