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.

If you try to break it up in parts you might be able to make better sense of it all.First of all there is the financial aspect.

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

OTH, if someone doesn't pay miuch attention to their business, they operate in a care free manner, are often negligent in other aspects of life, then doing all you can do to hide out might be a good way to go.This public liability razz is way over hiped IMO and insurance is your best solution.Hey, not implying our OP is paranoid, I know he has good reason to be concerned from other posts, but don't take legal advice from a CPA and don't ask your attorney to set up your accounting systems.

Now it seems as though there are some other aspects of bird dogging that i hadn't thought about.

There is nothing new in RE, there are ideas, but I suggest you strive to learn all aspects of real estate and your own ideas will come in a given situation.

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.

You can always get a property manager to help you with the day to day aspects but you have work those numbers into your returns.

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?