Or what are more commonly referred to as "shadow money" (and yes, eurodollar is a term used for offshore dollar deposits, but in the financial industry vernacular it refers to non-money that performs monetary functions). 

Don't get me wrong; there are plenty of issues/problems/quirks that old houses have that new houses don't, and an old house can obviously have hidden problems and big repair/maintenance bills too--which is why thorough due diligence is fundamental to REI...but, the point is: a brand new house is not a foolproof solution to repairs/maintenance headaches (and in some cases, a brand new house can be a much bigger gamble than an older house).This is a particularly important lesson for inexperienced investors, who tend to be the most prone to "shiny object syndrome" (the tendency to let nice aesthetics distract from real, underlying issues).

A partnership is fine at the start, However, You will really need to call the Texas Secretary of State and verify for yourself, Do not gamble on the Info you get on the internet,  Secondly, You need to safe guard your personal assets, Meaning you need to be at least an LLC, just in case things do not work out, If you are an LLC, and you have financial problems at any point, The LLC will protect you. 

What can you say...people like to eat, shop and party when they get a few bucks in their pocket and, contrary to popular belief, there is much more to do in Las Vegas than gamble.  

If you don't, it's almost akin to gambling - your potential risks spiral out of control.I've always treated turnkey acquisition as just another source of deals.

I fully admit that in retrospect - it was a huge gamble.

It's only in that scenario that I would break even....so I'd need an even larger crash to have timed the market, so it's a gamble where I'm feeling a bird in the hand is better.  

They may have some references or contacts that they know so that you don't have to gamble on a bad contrator.

v=vDoRITXplC8And he says that often in his videos.Very foolish gamble. in all the years we have been doing sub too since the late 70s  we Never Ever bought a property that did not have enough equity that we could not sell and make a profit on from day one.