We also require that we be added to the contractor's insurance as Additionally Insured, so we're covered if they cause damage or liability issue.3) If the property is occupied:- One of our people MUST accompany their person (and we charge for this). --- We were sued many years ago, along with the owner, because tenant claimed owner's contractor sexually assaulted them!

Even if they do have 20 years experience...how do you really know?

Finally, network with other investors and start small to gain experience.

I wanted to see if anyone has experience with or owns any properties with knob and tube wiring and what I should do.

@Tyler Speelman Your strategy to assist your sibling with a down payment while minimizing tax liability is creative but comes with complexities.

@Thomas Farrell if you have any experience managing property/construction projects, I would look in to flipping properties and keeping the once that you see an acceptable cashflow on when finished.

Would love to learn from your experiences.4.

Most will be negative because they have had bad experiences with it. 

I have 10 years of experience in retail real estate and a couple of partners who are interested in investing with me.

If they are the one providing most of the cash, they might not want to carry that liability, but you've already negotiated with your partners on this and then the bank isn't cool with it, you could be in a pickle.