You'll end up paying about 10% to sell the place leaving you cash out in the $72 - 81k range... leaving you $5 - 14k profit... that doesn't include any holding costs... seems pretty tight.Your other strategy is to invest $19k ($12k down + 7k rehab) for what amounts to $70 a month in cash flow per your numbers above (used 50% GOI - Mortgage defined as $500 - $170 in taxes)

For instance, if your father is responsible for operation of the company but due to his illness does not complete his defined duties it might be possible to pierce the corporate veil and go after him personally.

You hold title and have the JV agreement define your roles.

So for instance, the person who brings in the most money has the largest share of the company since he has a monetary loss that could occur.You will define all of this inside your company's operating agreement.

Please define success.

I agree with everyone Hud should credit you more than $500 to resolve issueGood jobs taking photos from the startTV4 // TV6 just run a special this past weekend Topic property missing plumbing,, ac units ,, etcOtherwise steal vital components from foreclose properties Supposedly county of Milwaukee our going after original / new property owners for code violationsWhile banks ,, government just keep on going Heck just in last 30 days alone over 680 sheriff sales Lastly, I would suggest placing temporary alarm system while rehabbingThat way your new components stay attachBetter to be safe then sorry

You'll not find ED laws being addressed as to better defining what the public good may be, like tax revenues or zoning, so it's the thought that we "own" our property.....truth is, you own it when the bank is repaid and so long as the government says you own it.

How is your move in defined or tracked?

When we complete a exchange we have a very defined timeline with drop dead dates along the way.

Situations where roles aren't excessively defined or when one person does all the work and heavy lifting too often lead to resentment and infighting, which makes everything eventually blow up.