There will be 3 other investors most likely, so a total of 4 of us will be involved in the partnership.I'm talking with several people I know to try and paint a complete picture of what this will look like, but I haven't contemplated this amount of money or considered working with a number of investors like this before as I've been funding projects myself...at most I've considered bringing one investor in to split equity and cashflow 50/50 which is very straightforward.Since I'll now be working with more robust investors, I want to make sure I'm structuring things in a way that will be favorable to all parties.

@Garrett T Colburn Everything will wear out so it is good that you are contemplating future expenses.

The owners were contemplating listing it but didn't want to go through the hassle of cleaning it out or making any repairs to the house.

I am contemplating purchasing a 6 unit in Hartford and wanted to know if any property managers in the area are on this site.

@Bill Richard  LOL you gave me a chuckle this morning thanks for that. this is really a cut and dried situation but a good learning experience for those who are contemplating second position loans on rehab deals... probably the riskest of all loans out there other than the fool that gave the 3rd position loan  LOL

I had asked the seller to drop the value $50k (The purchase agreement was $50k over asking) which they were contemplating, but now they know this, all bets are off. 

Please be advised that I am a real estate investor that intends to enter into the agreements contemplated for the purpose of investing in real estate as a going business concern.

Hello BP,I'm contemplating building two duplexes and thought of looking into modular options due to costs and timing.

Best of luck as you contemplate the decision!

There are just too many unknown facts to compare not to mention where the LLC is contemplated.