Germain, a federal law that spells out what violates DOS and what does does not.All that being said, I have seen af few generic deeds of trust in CA, from national hard money lenders, that have clauses about defaulting on junior liens as cause for DOS.

The sooner you do this, the better it'll be for both of you.Is it clearly spelled out in your rental agreement that the tenant is responsible for utilities?

If those numbers hold up and you are able to increase the NOI as you plan, you will not only be benefiting from cash flow but also appreciation.The NOI you have spelled out to start with would be right around $24,000/yr.

That should spell out any fees.

Long contracts spell out all the details rather than relying on the parties to agree when things get tough.

I did some research and it seems the best way to partner on the deal is to take title as tenants in common and draw up a joint venture agreement spelling out duties/obligations, profit split, and exits.

:)Somewhere you actually posted a link to the govt site with the laws spelled out.

A solid partnership/operating agreement is a must and should spell out all the details you two agreed upon.

I've also not been satisfied with their name spelling and choices of fields.

Thanks for your time and sorry about the punctuation, lack of pargraphing, and spelling.