Many houses in good school districts that have no equity can be offered a lease option for 5 years.You can make money in the option fee, spread in the rents, and spread on the back end.There are pitfalls but you can navigate them, such as using a performance lease.

Is there any additional pitfalls to watch tout for other than a normal house?

As Jon stated, you may be considering a very bad deal with many pitfalls.

John, seems to me the broker in charge of that shop would know this.Buying into an existing company has some major pitfalls, like contingent liabilities.

Hi @Michael Kern, there are certainly some good opportunities in Memphis, and some pitfalls to watch out for. 

Thanks for sharing so we’re all aware of this potential pitfall.

You should buy this property under your name only (or that of your personal LLC if your attorney recommends this as an extra precaution), not put her on the title at any point, and hire her as a contractor which she is in this setup.If you insist on your pitfall-ridden plan, and you're only planning one deal together, then you probably do not need personal LLCs.

Too many pitfalls. 

However, we help investors understand the real pitfalls of over investing, over leveraging and ultimately that stuff happens...and you DON'T want to get stuck without cash!

Partially completed projects can be an opportunity but there are some significant potential pitfalls to watch out for as well.