He will own 1/2 of about 4M in real estate after 2 years and is already under contract on 2 more developable projects.

You'll have to get a contract prepared by an attorney.

Needless to say we terminated the contract.

.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.

So you want to check that out.I also ask how familiar are you with Spanish, and reading Spanish contracts, and knowing landlord/tenant laws in Spain? 

This also leads owners to ASSUME simpler is better when it comes to management contracts.

I’m under contract on my first 3 family home and I’m exploring insurance options.

Now I've got a property under contract:$78K purchase$35K in development of utilities.$24K in soft costs (permits impact fees etc)$200K (or less) buildout of the house (size tbd on after-build-appraisal) Likely going with 2/2 A frame 1000 sf.

I have it contracted at 285. property is 3/1, with a unpermitted toilet in basement.

Ive taken over loans for mainland lenders who were 20 days into the contract before realizing they could not lend in the Lava Zone the house was located in.