If you don't know how deep the water is, you may get more than just your "feet wet".Third Lesson.Cheap and discount are not the same thing. 

As Tyler points out I have taken on a lot to build 6 cabins in one go. and yes i only think about the sexy part. I

In most instances when one person is putting up all capital, best to enter into a 3rd party GC relationships rather than become partners.

I did have one near downtown that I sold as that crowd was a pain, lots of parties and difficult guests.

Do you want to get into what can be a years long battle with multiple parties, including our darling city council, until you get to move into your home the way you want it?

You can also just accept certain kinds of pets, breeds, or sizes as a third option.

I understand I will need to pull a permit to add shower area in the third bathroom but would a permit be required for the three additional rooms, especially given I will not be adding any new sq ft to the property?

A contract is just an agreement between parties.

But, when 1 party has a clean sweep that means a lot of legislation gets passed, and that spokes the markets.  

The gist of it is that when you dispose of your entire interest in a passive activity in a fully taxable (as opposed to a tax-deferred) transaction to a non-related party, i.e., selling a non-grouped rental property in a taxable sale to a non-related party, both current and suspended passive activity losses generated by that activity can be deducted.