Best way to structure an operating agreement with family?

[Shiek Abdul-Hakeem]

Hey everyone!

So I am a joint owner of a rental property with my siblings that we inherited when our mother passed. We're currently turning over the property and an issue came up where one of the siblings wants some money back from a repair they took care of years ago with our previous PM. This was a really good reminder that we need to put together some sort of operating agreement and some other policy paperwork as well but I'm not sure where the best place is to start or should we just get a lawyer? Would hiring a  lawyer be cost efficient for something like this? 

[Scott Smith]

I also would agree with the above statements. Having an attorney go over the operating agreement helps with both ensuring that it covers your specific situation and will also give you a mediator - saves a lot of drama and helps in forming a fair document that reduces conflict.