Spell out the complete agreement of how expenses, profits (or losses), and other responsibilities are to be split—put everything in writing.Do a background check on the partner to confirm there are no outstanding liens, judgments, or active lawsuits against them.Hope these suggestions help.

If you feel the need to let them know you will be taking care of any outstanding maintenance requests, that may be positive news for themGino

And my current DTI is basically zero as I have no outstanding debt or living expenses right now.

I claimed for years 1) initial cash flow and cash flow over a long hold have a poor coupling 2) that I would purchase a property with negative initial cash flow.  3) I cared about total return and did not give a $hit about cash flow if the other returns produce an outstanding return 4) that cash flow is my least favorite return because it gets taxed annually. 

Pretty damn good.  

Do you have an outstanding mortgage in your personal name?  

Most banks won't lend when someone has an outstanding mortgage so would the owners be prevented from buying another house later because it still shows the zombie mortgage as a debt.Carolin,Based on all the ones I have done, most of the owners have been delinquent in their mortgage payments in excess of four years. 

I’ll be damned if I’m leaving that decision up to a thug/junkie.

It's the only brokerage I've seen where it looks damn near impossible to see who the Broker/Owner is.Additionally, if you are not the owner of 5 points, how is your "team" handling property management for all of your out of state and out of country clients when you are not a licensed Broker, nor do you own a licensed property management company?

I have not bought from auctions due to the horror stories, but I have to be honest when I say that some of the prices on them make damn appealing.