Experience and practice helps of course.

Here are some practical steps you can take:First, make sure you have a clear and comprehensive written agreement.

You'll need some practice, and to slide the scrap piece around tapping as needed, you'll also need to replace the scrap piece most likely after a couple hours of uses.- Most annoying - there could be a slightly crooked or twisted piece from manufacturing that you didn't notice and then installed and threw off the whole floor.

Unless you find an attorney that exclusively practices in this area, they won't have that level of knowledge.  

.- Insights on the best practices for structuring these entities for optimal asset protection and tax efficiency.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

Or if you all can share some best practices for new partnerships?

So this is a very common business practice across multiple professions associated with the construction. 

@Chris Henry By property is best practice.

It reminds me of the Gozone Benefits not sure Michael if you were in practice then.. but that was the post katrina And in the zone if you bought new construction for investment purpose or your own use.

It's now practically 50/50 we get another .5bps cut, just prior to Wednesday meeting it was 25% chance of getting that 50bps cut(from an original 50bps cut).Long way to go to Nov 7 though, and it's post election so we shall see.