Budget Wisely:Make sure your budget accounts for the purchase price, the cost of the renovations, and any additional charges involved in flipping a house.

It typically involves a person gaining access to remaining equity in a home that is subject to foreclosure.10. https://www.legalmatch.com/law-library/article/equity-stripping-lawsuits.htmlAcquisition: The rescue artist convinces the homeowner to transfer the title to their house to them as a way to avoid foreclosure.

Are they given a JV-co-GP position for fundraising or will they be involved in the management of the property?

Jim's bleating about government being involved.

Needless to say, many parties are involved, and they all need to be established and verified, or your business will suffer greatly. 

Make sure any renovations comply with local regulations and obtain the necessary permits if plumbing changes are involved.

If I have a JV with other investors and we need to pursue legal actions, I always involve the other investors when interviewing attorneys.

But actively involved in from 2016-Present. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Looking to see if anyone has a basic template of an operating agreement for a business partnership of two parties involved in the fix and flipping business?