And yes, that is the goal, I’m going to be involved everyday and learn about every step, verify invoices, check the budget, have my attorney review the partnership agreement, etc.

I do find that a conflict of interest...Hyptothetically,  one part of the invoice could list a charge for the inspection....a couple lines down there is a "failed inspection ' suggestion of replacing XYZ for $5000.  

BUT, I would also be able to prove with written communications, invoices, and payment ledgers ALL of the above.

The software I'm using (Buildium) is capable of generating detailed monthly reports based on category and notes entered for each line item, and I can upload every invoice/receipt for ease of access.

When the owner makes a capital improvement, they submit the paid invoice, copy of both sides of the check used for payment, and a lien release (if required) to the lender and they reimburse the owner / borrower for the capital expenditure.When the property is sold, the lender liquidates the unused balance in the reserve account to the seller / borrower.  

Then find out that gurus and others out there scam you calling stuff an education and lying to you, dang, what a bummer reality can be!

Dang, David Barlow that deal you described is awesome!

Welcome to BP community @Dean Dang  It is a great place to meet new friends and learn about various aspects of real estate and more.

@Jesse Hoffman most times its that dang hvac which is a 2k fic or 4 k replacement.

Hi @John WhitridgeYou have to look carefully at the invoices / materials the owner has spend, in order to figure out what they had spend on the property.