So if you put up $50k and your buddies each put up $25k, you would own 50%, they would each own 25%.If someone is bringing more experience or higher level of involvement (say one of you is a General Contractor, or a Realtor), they may get compensation for doing that job, or they may get more ownership than strictly dividing up per the capital contribution schedule.

I would say that strictly as a long term rental that I would pass on this one. $50 per door is too low on a 3 unit property.

We agree that being strict about on-time rent payment out of the gate is a must.We aren't in Boise right now, but will be at the end of January.

I'm speaking strictly for the state of Colorado, you have to be denied coverage by 3 admitted carriers before you can go the E&S (non-admitted) route, and typically E&S policies are more expensive, but perhaps you could get a short term policy that would cover you until you can get the roof fixed, and then go back to your prior carrier...if you still wanted to do business with them.

I would strictly follow the rental agreement.

But when are they going to have a podcast strictly about them and their life story..

Ken is strictly 100+ units and he does already have a company that owns multiple properties.

It's not going to be an issue for most insurance agents because it probably won't get in the way of writing the business (unless it's placed with an insurance company that has strict risk inspectors).But if you're going to make an unfinished space habitable, including adding a kitchen, and you're going to get permits for the upgrades, I imagine at least some of the work will need to be inspected.

If you follow a strict lead generation regimen, and you can afford it, then you can start out full time.

<g>My question really wasn't anything about how to manage the meeting - I was strictly curious if someone could think of any logical reason for a property owner to act this way - because I sure can't.