If yes, then the other partners can just do a JV agreement internally which you can record at closing that allows you to still “partner” up on it but allowing the lender to still be protected if anything goes wrong with the deal or people borrowing. 

How we protect our buyers is with the inspection, appraisal and financing contingencies.

So your saying select No Damage Protection and just submit an extra charge when it's warranted? 

The entire community tries to help one another and protects one another.

Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

Translation: you helped your client to protect their cheating against the state assessment.I understand that your client, as a result, avoided paying $45k.

There are ways to mitigate the costs and protect yourself to the extent possible.

In some cases, it may not be possible to purchase and store materials, but if it is, that is one way to protect your budget and avoid a costly mistake.The last thing I would offer for you to think about is having a pivot plan. 

You have to protect your assets and your family.Yes to all over 18 years old.

You do not need to have it under an LLC to take depreciation, the LLC's purpose is to protect your personal assets should you get sued.