If your investing in tax liens you are probably more sophisticated than I am, but I have a real estate attorney that I go to with all my questions.  

Plus your dealing with sophisticated accredited investor generally...

Taking over payments sounds simple enough, but it is a sophisticated strategy - not one someone can explain to you in a blog or a forum post.  

Any sophisticated investor/partner is going to insist on knowing where their money is going, how much they need to invest when and where.

If it's on Loopnet, it's probably been passed over by many more sophisticated investors.    

'Sophisticated' isn't always the best way to go.

@Eric Armstrong  I think it would be a hard sell to most folks as they are not sophisticated enough to understand the various documents you may need to secure yourself.depending on the state you could simply do the work and put a mechanics lien on the property..

You want full disclosure, complete transparency and operator who has the sophistication to accommodate and communicate with far reaching clients.

Hello Everyone at BP,Tim Walach from Portage, INI am a Machinery Technician for the U.S.

You'll need a lawyer to draft the operating agreement.My recommendation is talk to a good asset protection, real estate investing attorney and sophisticated investors to understand what you are doing and the risks and the protections--part of just being educated.