(joint, tenants in common, etc)Is the partner on the mortgage to the property?

If your share of the joint venture includes your management, what would you be contributing if you "spin off" the management?

@Chad Bernstein Do you know if they own the property as Tenants in Common or Joint Tenants?

@ David Moore, it might serve you and your private money people well to consider a JV (joint venture) agreement, especially if you want to structure the arrangement in such a way as to return principal and interest when the property sells.Also, a JV agreement can spell out exactly where the rehab money comes from and when.

The pump runs about 8 hours a day....no one was at the house for a few days, the PVC pipe broke at a joint just past the pump on the pressure/return side, the suction was set to just the main drain on the bottom, so the pump actually drained the pool to about 1' deep, and discharged all the water into the lawn.

@Daren Wang , yes, you can create a master lease where everyone is responsible for all of the rent (joint and several).

During the time between now and in two years, I would like to joint venture or just purchase small homes on my own.So here's my first step:I recently purchased a 4 family house in Central New Jersey with two 1 bedrooms and two 2 bedrooms.

Just saying, making a loan is easy, but most small, occasional lending types usually are not aware of the liabilities and risk of lending, taking an ownership interest is better in every situation with jointly owned properties, I can't think of a single advantage of holding a deed of trust, especially a second.

@Chris Messier My initial (knee jerk) response was to say use common sense ... but what constitutes a large storm is relative ... the weather that has paralyzed Texas these past days is normal winter fare here.

If so, I don't think this would be a good idea - the joints are just going to crack and look worse than what they already look like.