If your first deal goes South, there will be no second deal.However, there are several ways to mitigate this risk.First, all investor and business risks are spelled out in PPM.

If you are true partners and upon success, intend to repeat this, you should form an entity together with an operating agreement that spells out each and every soecific item (responsibilities, tasks, money, what happens in case if death, etc. as far as thevowner carried financing, have your attorney draft up a note and deed of trust.

Hey folks,I picked up some cards on my way out of town from Tacoma and didn't catch a SPELLING ERROR and am now ashamed to give them out.  

I suspect I could easily manage 20+ and do rehabbing while working full time and spending plenty of time with the wife and kids.  2) My lease clearly spells out what is an emergency and what is not.  

What you want to avoid is playing referee between them, so spell it out clearly up front.Our clause:In the event that Tenants decide they no longer want to live together, ___________ will be considered the primary Tenant to make decisions about modifying or terminating tenancy.

Now, to assign a contract, it must be spelled out clearly in the additional provisions. 

I rushed it and didn't spell check. 

Either of those things could spell disaster.  

This is doubly true for California, where your state income tax is higher than most.I'm sure you can already guess my reasoning, but I'll spell it out anyway, just in case you're not familiar with our tax structure; Texas has no state income tax, so most of our state funds are recouped via property taxes and sales taxes.

And I'd think you need to spell out your possible intentions to the seller, within the agreement.