@Sean ImfeldHi Sean,I see two ways here :Partnership (Joint ventures) :This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership.Coporation :With this one, it is very easy to ''split 90/10'' because it is based off Shares.

When it comes to legal disputes, that "reasonable" rule is typically pretty well adhered to.

My first thought is that the photos advertising the house are not as attractive as they could be in terms of lighting and resolution.  

CONFLICT RESOLUTION.

This JV agreement spells out who gets what, how, when, why and should cover everything from partner death to what happens if the property does not sell in the time allowed.An example of such a circumstance could spell out that the price is dropped until it sells Nd any loss is split up accordingly or it could state that it becomes a temp buy and hold, or any number of other possible resolutions.

Alfred Bell - There is no doubt that the government and banks are in cohoots. be that as it may and skipping over any more political rants, Dodd/Frank and company have made it more difficult on the private lender, that is not disputable in my opinion, however, private lending will always be around and so long as you comply with teh rules (usury for one), you are safe as far as the law goes.Trust deed investing is a great means to passive income with collateral, unlike tocks for instance.

If the BPO comes in too high, then you would present all of the comps to the lender, as well as repair estimates, to justify the reason you are disputing the BPO.

I know the 50% rule is a long term hold rule and I'm not disputing that in anyway.

If it is a larger Corporation, you would also need a Corporate Resolution authorizing the funding for the Rental.

They will just be too close to each other and disputes will happen.I think the purchase price is too high also.