I do not know how close your friendship is, but I would advise you to exercise extreme caution.

I value the role of having a solid network, which I've established in the Kansas City architecture realm, and am excited about getting to know you all in the real estate business in the KC Metro area! 

This scenario seems to give the buyer what they want, and unless the land contract forbids subleasing, it works well with the existing land contract in place.If and when you exercise the option, the buyer (who will actually be the owner at that time) still prefers an installment sale for tax purposes, that can be done.

It sounds like this person is essentially a general contractor or do you already have that role...in your case I would think your project manager would manage the GC (i.e, make sure they are on schedule, under budget, and quality is up to par). 

.- Create a detailed business plan: Outline roles, responsibilities, and how you'll handle decisions and potential conflicts.- Build a network: Connect with real estate agents, wholesalers, and other investors to find good deals.- Educate yourselves: Learn about local market trends, zoning laws, and permitting processes.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

When I exercised my rights under the JV agreement to cancel, have my principle returned, along with interest owed me, it started out with radio silence, then turned to downright lies. 

We need MORE positive female role models in the investment community to show young girls that this is industry is not just for the boys.

Unfortunately, we have had to exercise the provision ourselves a couple of times over the last year.

So, maybe you had a bond paying 12% interest when inflation was high but now rates for a similarly rated bond are 6% so they exercise the call option and pay off the bond holders who now have to go out and reinvest that money at prevailing rates (e.g. 6%).  

I chose 21222 for this exercise.