As @Joe Gore mentioned, you won't be able to do this with any bank that underwrites loans for fannie or freddie, which is *most* banks that offer a 30 year note.One way around this is using commercial loans which will allow you to set up an LLC with an operating agreement that stipulates all of the details of the arrangement.

Any interest or fees on another loan arrangement likely do not fall under damages.

I am originally from Grapevine and Southlake and my mom still lives in Flower Mound, so right around the corner from you in the Colony.We have bought properties from a lot of different wholesalers there in Dallas if you are looking to diy your investments.

You will owe it, but I guess it will take months for him to arrange for someone to get a power of attorney to pick up payments.Those could be the issues when you get so smart thinking you can out smart the system, plenty of rope.Or, you could explain the error of his ways and negotiate a better deal. :)

You'd spend more time arguing over who should do what than actually doing whatever needs to be done.It sounds like you and your potential partners need to put a lot more thought into the partnership arrangement and spend more time looking at division of labor/responsibility so that everybody is on the same page.

If you figure out how to do that consistently without taking risks that could collapse the empire, let me know and I can probably help you arrange a few billion in equity..

We found placing machines in each unit puts the utilities in the hands of the tenants and makes it easy to identify any abuse to the machinery ... it also allows us to use better, lower priced, equipment.Now, in the larger buildings, its a different story - we have machines supplied by a local company on a revenue share arrangement.

If you partner what arrangement do you have?

In terms of an FHA loan - you would have to have a very loose arrangement to use a partner.

I am not sure of the reason of the sudden change, my guess is they were able to arrange a truck sooner than later?