@Justin Landesman's comments are critical about not funding without being on title and/or having a written contract about the distribution of profits.How much do you think the rehab budget is?

@John Friendas  back to Jay's comment, it shouldn't matter if you plan on purchasing another property soon after.

I've seen a few instances on the biggerpockets youtube channel where the comments were suggesting the data used in calculations wasn't accurate.

This happens 100% of the time a squatter presents a fake lease, deed or bill of sale.2) It takes several hours, if not days, and multiple calls for the police to show up.3) Even when they do show up and remove the squatters, the squatters sometimes break back in the same night.

This is the third time in the last few years that this has been presented to CA voters.  

Steve,thanks for the comments and the reference to the IRS documentation to clear up this matter for me!

Your comment does bias me slightly in favor of Indy, since at least we're talking about a manageable car ride.That said, I'd love to know the biggest mistakes you've seen - how do neophytes typically "crash and burn?"

And a debt note is only part of the cost of owning a property; not paying taxes will get a property foreclosed; not paying insurance can present huge exposure to damages.

because I was paying my bird-dogs vs having them pay me and just promise how someday, maybe just maybe they will bring the grand-slam of a deal and then I will be paying them oh-so much $$$$$ Seriously, from those buying into this I gotta understand how your mind works, no insult meant, I am genuinely intrigued and baffled because if it's a good deal you can go to any number of investors and get $, not a one will charge you for the opportunity to present them deal. 

I essentially present to them my numbers of what I can redo the property for, and they loan me 80% of the ARV basically no questions asked except for an appraisal.