Q1: Great points, we'll need to have a detailed operating agreement that outlines an agreed approach to all potential outcomes.

Quote from @Sidney Johnson: Hello all,Just writing to ask if anyone can recommend a book or books that outline the Live-in flip strategy.Thanks,Sidney Following I've read a few threads of people starting with live ins.

Looks like you've already outlined most of the way something like that would work.

During this initial research I read several articles which state that coverage in high risk states has significantly declined since 2015 due to policy rate / deductible increases such as what I am outlining above.

Hopping on call with our realtor tonight to outline our next offer!

I suggest setting up a partnership agreement that outlines the financial contributions that each party will make and the distributions each partner will receive.

However, you should have a clear agreement in writing that outlines the timeline and conditions.

I believe NOLO.com outlines the process. 

Also if you could review the structure of yours and initial fees which we outlined below it would be much appreciated.

We outline our criteria if they express interest so they know upfront.a.