The investor is obviously doing a lot of things incorrectly (and you shouldn't want to work with him), but you're also doing a lot of shady things:- No insurance- Not pulling permits- Not filling out a W9 (or charging for taxes separately)I would suggest you cut loose from this investor, but that you also examine your own business practices and make the appropriate changes there as well...

Understand that weasel clauses just reflect their intent and they deal from a position of no commitment with who they deal  with. 7. they have no understanding of valuation of professional (I use that term very loosely) services attempting to get what ever they can that is most often unreasonable. 8.

And Thank you for "Gripe"  I understand that mindset, because they want to property to look the most attractive to their end investor but when the investor does their due diligence like yourself, it looses credibility quickly.  

I've seen people post to go so far as loosing the girl friend is she's not board with investing.  

Doing a title search on each home would be very expensive given the auction could be canceled (plaintiff files for bankruptcy), you loose the home to another bidder, the reserve price announced shortly before auction is too high etc. 

In forming a new entity/venture, it is OK for the IRA and a disqualified party to have up to 100% combined equity.Such joint venture transactions are often promoted loosely on the internet, including here on BP.  

I also tend to think most JV's are not proper joint ventures and are more like two folks, albeit entities or people, trying to work on something with a very loose document tying them together.  

The goal of my first flip was to NOT loose any money.

It's loosely organized and is a meet & greet\networking group that has occasional topic-focused meetings. 

Hey everyone, I'm working on closing my first deal and the only issue I've found so far is a small foundation issue where it appears that the concrete is coming loose and I'm looking for some opinions on it and I wasn't sure where else to post this.