Otherwise is it easy for someone to take all the rent as cash flow and want to split it.You need an agreement on how much of the money is set aside each month for taxes, insurance, maintenance (even if he does it with free labor, parts cost too), CAPEX (same, supplies cost), remember he cannot do everything, what if the sewer collapses or the septic tank needs to be replaced, some things are best hired out. 

If the deal collapses and I would lose everything, I'm out.

., building more apartments), because if yield increases too heavily and prices collapse there's a backstop. 

The next day, the ceiling collapsed in the downstairs basement.

In our area we still see terracotta main sewers, that after 80 or 100 years break, collapse, and make life smelly for all involved.Check with your local utility provider to see if they offer insurance for water mains and sewer clogs/replacement.

But some of the issues are foundation caving in, one of the main support beams is rotted away and no longer attached or supported by the sill, rotting sill in basement and on some windows, the drain line is heavily corroded and has large holes allowing water/waste to spill into cellar which has caused soil erosion and sink holes collapsing the basement floor above the pipe, both sets of stairs down to basement need to be replaced, Back deck and stairs has to be removed and replaced due to rot, rodent infestation causing chewed wires in both attics, multiple fire doors needed which inspector said they can run about $2500 each ect.

@Jonathan YehJust starting out myself but in that situation I would: Network but keep quite about your resourcesKeep my guard upEducate myself about syndicationsLearn how to vet a good deal in said marketFind a killer opportunity in your new circle that’s about to collapse due to funding.

In that case your S-corp setup collapses, along with your tax savings.Besides, you will likely have a regulatory problem, because only individuals can be licensed as agents, not corporations.

The pipe was likely collapsed for a while now.

@Tracy MungerHi Tracy,If you're going to poison the mice make sure you tell your tenants about this ahead of time, the day of, and while it's happening--because if Fido the Dog or Fluffy the cat eats a poisoned mouse or chews up a poison box you will have some very unhappy tenants.They make poison boxes that contain the demised mouse vs letting it run around until it collapses--think about asking about something like that, and let the tenants know what it looks like and not to touch them or move them.Good Luck!