That way you have a contract that is specific to your area and at the same time have an established relationship with an attorney in case anything ever comes up.If you want a boilerplate contract, I am happy to share some of ours, but they are more specific to Chicago/Illinois law.Here is a blog that we wrote on what should be included in your contract:This article is for educational purposes only.

There are a bunch of great investors who are more than happy to share and network (including myself). 

I look forward to engaging with you all, sharing insights, and hopefully contributing to discussions as I progress on my journey. 

Now at times I'll go in on a share on something, not a hotel room but you get my drift. 

One of the biggest challenges of investing in Rustbelt cities is knowing where to invest and properly understanding the cooresponding pros & cons.Here's copy & paste advice we share to help to address this challenge:-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

The happiest day of my investing career was when I transferred ownership to all those houses in one transaction and to never ever go there again with that asset class.But thats me.. section 8 can work but its not as passive as folks claim.

3.Draft a written agreement where the property owner retains full ownership of all guest funds (nightly rates, cleaning fees, and taxes), while the cohost invoices for management fees and reimbursable expenses?

Good luck, you are a busy man with school, family and baseball.Likely your best bet is house hacking (if your partner and child are willing to share housing). 

Exactly that’s why I’m trying to figure out a way to take ownership or protect my investment as I’m taking over payments and do not wanna leave it under their name as they can just come back and take it

Thanks for sharing your insights!