PS: When I spoke to the Maryland real estate commission they made it very clear that buyers who spam low ball one page faxes, are still entitled to having that offer presented to the seller.

That is spamming.

In the meantime, my in-law blew/gambled away a good portion of the money that insurance had paid him.

As a painful lesson that so many learned in the downturn, it is folly to include the gamble of price appreciation in our real estate analysis.

So neither of us should take offense ...So, are you in the gambling business where you "roll dice", or are you in the investing business where the objective is to learn how to become more profitable?

The Reno economy is very much based on logistics besides tourism/gambling, we have distribution centers for Walmart, Amazon, Chewy, etc.

I think this thought that appreciation is gambling is a horrid statement and simply not true but its been beaten into the starter investor over the last 10 years because of what happened in the GFC..   

I would certainly see what they say instead of gambling that they don't find out, but it's a tough call.As far as how to form it, you can probably do it yourself on the website for the state of Texas, but the operating agreement should DEFINITELY be done by an attorney if there is more than one member and especially if it's not husband and wife.

@Henry LazerowHere are many daydreamers one asked how to invest a million in cash and giving the impression of not having a relationship with money, he either never had to work for money or does not have a million seems some ppl dont have anything to do except spamming forums...Just my 2 cents

You bought the house to live in, not to gamble with.