If it’s something larger that can have some sort of real milestones, then ther is something to work with.Don’t forget to plan on having cash for unforeseen “stuff.”I hope this helps.

Then the unforeseen. 

Further, Articles of Incorporation can serve as the legal agreement between us for how to handle unforeseen life events or circumstances. 

Keep your capital for unforeseen contingencies and get the boost to go on to the next best deal. 

There're IRS Regulations that allow for an exception ("reduced maximum exclusion") under "unforeseen circumstances."

Now, you may have all that taken care of, but thought'd i'd point those out, just in case.As far as the deal itself, it seems interesting with those #'s, but a concern is your lack of funds and reserves, to cover unforeseen circumstances.

What I mean by this is that when unforeseen costs arise, and they nearly always do, you may find yourself tight on funding, without having any exit strategy.

COMPLETELY renovated in 2006-2008 by owner/occupant as his retirement home who had to sell and move in 2020 due to unforeseen circumstance.

After through some unforeseen circumstances that house is now being prepared to be my first rental property.

So if i understand you correctly, my title insurance should technically cover any unforeseen circumstances against the title and thereby his interest as well?