I look at substantiated and accurate underwriting, and the character and record of the sponsor. 50/50 or 80/20 won't save you if the deal is bad.

In essence, don't be dumb like me.)Fast forward to June and we can't get this guy in the workshop to contain his mess and keep it from spilling onto the other tenants yard, as well as issues with him bringing over sketchy characters, so we give him notice to move out.

I believe a child's character, self-worth and relationship with their parents is formed when they are young, so these years are so important.

There are a lot of shady characters out there.Unless you have the time and experience doing this I would think long and hard before undertaking this. 

If it doesn't smell good to you..then don't invest regardless of who says what.1) Understand the Industry and related Industries (Real Estate, Mortgages, Credit, etc.)2) Learn how to evaluate a property so that you are not relying on someone else (valuations, construction costs, market conditions, etc.)3) Learn how to "vet" the sponsor/developer (Borrower/Investor) with regard to overall character, credit management, experience, resources/team, attitude, etc.4) Have your attorney draw up the Mortgage, Note, Trust Documents and related documents that will be used to secure your interest in the property5) Secure Title Insurance with a Survey on each transaction (understand how to read a title report and specifically the B2 exemptions page(s))6) Secure Property Insurance on each transaction (replacement value if possible)7) Secure either a BPO and/or actual Appraisal on each transaction (as-is as well as Subject To values and an income approach on duplexes and up)8) Do not release money on a construction project until x percentage is completed (Draw Schedule) and never release the final payment until the project is fully completed - Use a 3rd party Inspector (familiar with the Construction Industry) to determine percentage of completion / line item itemized9) At the first sign of distress by the Sponsor or the Project, be ready to act and act swiftly10) Have FUN! 

Being a landlord I tend to be lenient on credit and more stern on character and financial stability. 

That enabled us to get him in a property that needed minimal updates, met all of his needs, and gave him the amount of character that he was looking for in a home.One of the things we did with John was talk about how long he wanted to live on the property.

It gets harder to do college 'character building' (i.e. debauchery) once you start a family and a career.

All these counties have many different characters.  

You're talking about an afternoon project. it builds character as "they" say...