It's not particularly difficult, you just have to do more legwork to make sure all of the components are handled (inspections, loan, title, closing, etc.).All you really need is a simple contract form (can be found online) and put an offer in writing.

@Andrew Whicker Based on what you have said, assume all major components are in need of an upgrade in addition to the cosmetic deficiencies.

Although my experience only dates back to 2007, I feel that I have a pretty good understanding of the components of a house.

Unlike Salary Deferral, the Profit Sharing component is part of the business expense and can only go into pre-tax bucket.

I originally assumed that this "Preferred Return" would be paid to the Investors regardless of the profitability of the Project and realized that wasn't the case like it is with other projects I've analyzed and/or invested in elsewhere where the "Investor Preferred" (may not be called that) is debt paid regardless of Project profitability, coupled with an equity sharing component to distribute net profits if the Project achieves certain bogeys. b.

A good commercial broker is also key component as well.

I know that written goals is an integral component of success it's just that I don't know exactly how to go about doing.I recently finished reading Think & Grow Rich and I want to create a goal sheet that I can review regularly.

Here is my current situation:Main residence appraised $122,000 (loan balance upon re-fi $75,000)Rehab property appraised $132,000 (purchased at $89,900)Combined Value $254,000Current Loan is $197,000 (including $34,350 construction component)We discussed keeping the mortgage balance at 80% of appraised value of my main residence upon the sale of the rehab project ($122k x.8= $97.6k) The process would encompass selling the rehab property and paying the loan balance to the 80% figure while retaining the difference acquired through the sale of the rehab...

Equity Accrual is a component of Total Return.

Should I remain persistent until I convince him, OR should I walk away and take his reluctance as a sign that this could be detrimental to our relationship?