In that case, with good documentation, etc that money CAN be awarded to you.Last but not least: the old saying "you can't get blood out of a turnip" may be true, but you CAN eat the turnip:)

Hey Bellingham Investors,Has anyone ran into the Bellingham Municipal Code 20.08.020.F that states a lawful situation for residence zoned as a single-family as "One or more persons related by blood, marriage, or adoption, or not more than 3 unrelated persons, living together within a single dwelling unit."?

However, there is a difference between retaining an agent (friend or not) to find you a warm blooded potential tenant, versus hiring someone to manage your property. 

Remember the old parody about blood from a turnip. 

So many questions that are going to be dealt with in the Operating Agreement and an attorney will have the experience to give you good advice on what is good - and what needs to be changed.If this was a 30-50k deal then i'd be emphasizing the relationship to the operators and you could probably get by without an attorney, but in this case I dont think it matters if it was your own blood brother - 350k is a big first-time investment and its well worth the few hundred dollars to hire an attorney.

There's every reason to believe you're going to get some non-performing notes in their, but that's why they bundle into packages of six properties, to spread the risk.It was an intriguing concept but it's too high risk for my blood at this point.

Our industry is changing rapidly and younger blood is moving into the industry.  

Just bought it ...Draw blood early, word will get around the property that you don't play.

This gets my blood boiling why am I responsible for something I didn't even know was broke and the tenant lied about cost (friend wrote receipt) and he  claimed he was displaced from residence when it was broke.Can I just evict him and terminate lease for other reasons other than non payment.

After recently exiting a lucrative startup I am left with quite a bit of capital for investing in real estate which is something I've always wanted to do.I have been lurking on the forums for quite some time and I am definitely interested in 2 approaches to investing at the moment;1) Buying condo's as cashflow investments (buy and hold) as close to an affordable downtown core as possible to also hit a potential appreciation, although I'm aware i should never count on appreciation but being from Vancouver its in my blood I guess.