I have lost money on $100K homes and made $30K on $100K condos...and it could be vice versa, no general rules.

you're the captain of the boat - don't let anyone else steer, unless they're apart of the boat and are watching out you and them...don't sink (mutual vested interest).agents don't normally have foreclosure information unless they specialize in those investments or are HUD certified brokers/agents.

Any thoughts on how to have a central spot (besides renting a storage unit) where we can keep tools so that he is not on the site while I have a tool he needs & vice versa?

And vice versa.Everybody starts somewhere.  

Gone, forever.Nobody's ever really taken them to task on what I view to be 1) wishful thinking or 2) straight BS.Now, don't get me wrong, I don't want to be the "table captain". 

The trick is just making sure it's the right group, because really the only way I see something like this going wrong is to have the wrong captain at the helm. 

Then you have your general tools like a vice grip, hammer, channel locks, flashlight, tape measure, composite shims, headlamp, box cutter with extra blades, painter's tool 5-1, wire stripper, allen wrenches, voltage detector, outlet tester, lineman's pliers, good Milwaukee demo screwdrivers, Milwaukee 11-1 with Phillips, flat heads, and 3-4 common size nuts(this is great for appliances).

Literally, a 1000 block 3/2 can rent for 25% less than a 900 block 3/2 and vice versa.

He admits he gets more silly phone calls then he likes, but he now has systems in place to mitigate this (and also designates a "captain" for the home.. the only person who will be in charge of everything and contact the landlord vs. each individual person). 

I know a Captain in Costa Rica that runs one for a group of investors.