Operating agreement in place spelling out duties, financial responsibilities, and profit share as follows, Member 1 provide purchase money, pay holding costs and supply labor as able/ needed.Member 2 ( me) provide rehab money, manage contractors, make all decisions neccessary for completion.Short version.

You spelled his last name wrong.The more I read about MHP, the more interested I get in them.

They will forward an agreement that spells out their services and the fees for those services.  

I also spell out emergencies versus non-emergencies along with normal hours of operation.  

It very clearly spells out all the costs and allows you to make changes for vacancies, maintenance, etc so you can see how different scenarios work out.

Ouch.So, clearly Home Ec 101 isn't part of that PhD program. . .Note to self: a new lease addendum spelling out how one should clean floors. . .

That being said, I think I'm going to pass on them--they don't seem to know upfront whether they can do a deal or not, which can definitely spell lots of wasted time & money!

@Kenya Spells congratulations on starting your own PM!  

However you structure the ownership, with partners I would have a strong operating agreement or JV agreement that spells out exactly what happens in case of all the Ds:  Death, divorce, disinterest, drug use, default, etc.

I may be way-off here, but you are coming off as extremely emotional right now, and throwing a ton of different stuff on the board as it comes into your mind.I would suggest that you pause, take a deep breath, gather your thoughts, and take the time to write out a post that spells out exactly what is going on, and what guidance you are looking for.Again, I may be off-base, but that is how the posts are coming off to me.