I am researching and trying to find out what all needs to be included in a good business plan but decided I would come straight to the horses mouth and get some answers from here as well. 

So work on the project has stalled since then.I still am going to do a complete kitchen remodel and add the half bathroom on the main floor. 

Sure glad I didn't get the cart before the horse and make the purchase first.

I knew another GP or syndicator as we call them today.. who also went to Dallas and lost the projects.. that was circa early 90s  ergo what we see in Texas is a nice run up post 08 GFC it was not always like that.And not to beat a dead horse.. but any one doing a syndication as a sponsor who thinks they can stand behind their disclosure documents and then lose the project and they will walk away scott free is really really naïve and is a newbie.

I have been looking to get into Texas RE one way of another the last 1.5 years, and its not like me to stall.

@John Thedford  seems to me those that want to do this get the cart in front of the horse ..

. * I leave for auction.Guy comes to auction to get my # and tries to talk to attorney to see if he can pay the lump sum owed this week using his brother's money (supposedly. could be a stall technique?)

. * I leave for auction.Guy comes to auction to get my # and tries to talk to attorney to see if he can pay the lump sum owed this week using his brother's money (supposedly. could be a stall technique?)

yeah  I would work on equity partners before you get the cart before the horse... it simply takes cash to operate in the real estate game. 

Now I know this was a stall tactic...