The prices in Bonita Springs work better compared to Naples however one aspect of Bonita Springs that scares me is the flood insurance.

Most huts require a signed waiver . . . maybe that helps with the liability aspect.

Even if we have to keep the existing floor plan I think we could still charge $1400-1600 in rent for the area based on comps, which would still make this a profitable deal.Here is the unique aspect to this deal that I could use some help with.

I mostly do all of the sales related aspects of the business for his PM business, primarily the filling of vacant apartment units. 

- What are some of the most important aspects of successful Joint Venture?

Hey Y'all (I'm not really from Texas, but I feel its my duty as a transplant to try to fit in as much as I can),I am an attorney representing mortgage lenders in all aspects of mortgage default: foreclosure, bankruptcy, tax sale, loss mit, etc., in my day job.   

In addition to the practical aspects of following a properties profitability, if a property sells, all expenses are tied to the saleable unit and the basis is quickly and accurately available.

Areas with above average school districts are another plus:  This will be the absolute hardest aspect to find in 3-4 units. 

The lawyers always forget to mention that little aspect.

Nothing was signed and there are no legal remedies involved this early in the process, so no harm done should things not work out.It's not fool-proof but it's less risky than most other aspects of REI