I definitely have a better understanding of what not to do.

I would love to know what to do next or what not to do next.

I would prefer to sell houses purely at my own discretion; maybe only for friends and whatnot.

Not to mention the life lessons, responsibility, and whatnot that he and his friends will learn along the way.Also, another thing to remember, if you decide to pay your kid to manage your property, is that his/her income counts when they are applying for student loans, which most likely will reduce the amount that they can qualify for.

I am not sure about other banks, maybe they will ask that you stay on budget and what not, but at the end of the day it's your money and all they care about is the home being finished (another finished asset in their book).The worst thing you could do is second guess yourself or give away your leverage.  

All my failed endeavors led me to be a “strategic business consultant,” meaning “I’m an expert at driving a business into the ground so you should pay me to tell you what not to do.”

I would think it would get even more confusing for a seller to see several names and two assignment fees and what not.

I can speak from direct experience on what not to do:Adding to the list:1. 

Banks wants foreclosures and whatnot off their hands asap. 

But he said we would be able to deduct all of the repairs and everything else associated with having the guest house including a portion of the utilities and whatnot.