@Tyler Speelman Your strategy to assist your sibling with a down payment while minimizing tax liability is creative but comes with complexities.

We sent messages to all residents and 3 didn't answer, so it seems like that is the place to start, but does anyone have any ideas on how to figure this out given the limitations?

Then think I could have 2 sub meters put in (believe the limit is 1 per main water meter).

I could buy a LOT of umbrella (additional liability) insurance for $13,000.

Hey Steven - An LLC is a solid choice for structuring your partnership since it offers liability protection and keeps things clean when splitting ownership and profits.

Naturally, Jerry has completely failed to disclose this.Third, as others have mentioned, there was no mention of any of the criteria he requires for the deals you find.Fourth, there is a place to ask questions on the webinar page, but of course none of the ones I ask (including the issues above) were actually answered.Fifth, they limited the window in which people would be "allowed" to buy their program to a whopping ten minutes, because that means that those are the "go-getters", and after all, since he doesn't have unlimited funds, of course he can only work with a few investors so it has to be those who are willing to bite so quickly.

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

Do you limit the term to 6 months to begin with, or 30 days minimum stay and negotiate an option later on?

Here are five dangerous provisions to watch for in an Operating Agreement:Dangerous Provisions to Watch:Authority to incur debt without investor approvalPower to make loans to other entities/projectsAbility to cross-collateralize with other propertiesPermission to use investor capital for other venturesCommingling of funds across different projectsWhy These Are Potential Ponzi Indicators:• New investor funds could be used to pay existing investors• Project-to-project lending can mask poor performance• Cross-collateralization puts your investment at risk for others' failures• Commingling enables masking of financial problems• Lack of project segregation enables fraudulent schemesProtective Measures to Look For:Strict single-purpose entity requirementsProject-specific bank accountsDebt limitations and investor approval requirementsProhibited related-party lendingClear fund segregation requirementsProfessional Best Practice:Request bank statements showing separate accounts for each project.

This waterfall would materially limit your upside as an LP if the fund ends up being highly successful.