There are ways to mitigate your exposure, not every house under 30k is in a bad neighborhood (hello, Columbus OH), and there are a million ways to minimize your risks in these neighborhoods.

When you begin to evaluate the possibility of a borrower in walking away these initial motivations play an important role in valuations.Very few installment contracts were ever processed as to any qualification of a buyer, you would see an in-file credit report as Realtors made an attempt to cover their exposures with a seller.

Both of them should be investors themselves.Ask that asset lawyer exactly what exposure you will have when operating in an LLC and what protection you will have.

Light rehabs with lower holding periods can work at higher all-in %'s since your exposure to risk (via timeline) is reduced and your holding costs are reduced on quicker flips where conversely, you may need more room for a full gut to the studs rehab as your timeline of holding period will be much larger (as well as your risk factors). 

The exposure is just too high for me.

Really the best thing you can do is get as much exposure in your chosen field as possible.

I am actually on a similar line of thinking where I can get exposure to rehabbing on my own time and dime, but it would be harder if I try living with people I don't know very well.

Benefits of LLC: asset protection, but consider your exposure - how much equity will be in the property to start and what is your net worth?

Just something to give him some more exposure to real estate while he's saving up money and learning more about what route he wants to take.

Sometimes good and expansive exposure is all the property needs.