Otherwise, there are low cost options (Rocketlawyer, NOLO, LegalShield... not endorsing any of them) that you can draft one for the state you need it in and adequately define (not an exhaustive list):Who is bringing what to the tableHow splits of cashflow / equity will happenHow will the asset be heldHow will it be capitalizedHow decisions will be made to sell

When I am looking for people to do the right thing I always share that doing the right thing makes me want to endorse you. not doing the right thing will encourage me to go to BBB, google reviews, and any other internet forum to share my experience.

@Hani AlomarIf your target is cash flow, I can endorse the Midwest.

I did work with real estate professionals, I know some people that have worked with these very well know professionals for years and some very well know people endorse them.

I did work with real estate professionals, I know some people that have worked with these very well know professionals for years and some very well know people endorse them.

But to do that, you need to make sure that your insurance company is ok with it (for free), and that your title insurance people will endorse to the LLC(for $200).

Best course of action is to reach out to the title insurer BEFORE any transfer to determine what will be required (I'm thinking current judgment/lien searches on the would-be joint tenants, at a minimum) to obtain an endorsement to the owners policy.

Unfortunately, the insurance didn't cover him and his legal fees and he had to get his own attorney.I was worried enough that I call my insurance agent and was told my policy for the LLC covers the LLC as well as me personally under a separate endorsement.

Commercial loans don't require the broker to be present in MD or have any state specific license as long as they have a NMLS endorsement in their home state. 

Some insurance policies cover asbestos, some exclude asbestos, and some require endorsements for an additional premium.