My conclusion is that people who think they can somehow utilize BK to increase their net worth in some predetermined way are not familiar with the CURRENT bankruptcy laws or have watched too many television commercials by bankruptcy attorneys.  

There is a predetermined sales price2.

In this contract, you also include a set sale price, so when the property is completed, you can buy it from him at a predetermined value.Knowing you financial picture will help too.  

This ensures that there is always a fixed profit element in mind when negotiating with investors so that we make enough to cover liability and expenses.In summary: The rationale behind this practice is to safeguard a predetermined profit margin while negotiating with investors, which would eventually cover their liabilities.

The "promote" just means that after your investors are paid a pre-determined return, you would receive something more than your proportional share of cash flow thereafter.As someone else pointed out above, if you aren't an experienced investor and desire a more passive investment, you could invest as a limited partner (i.e. part of the 90%) in someone else's deal. 

So a percentage of the monthly rental income would be set aside to cover maintenance and vacancy.There is no predetermined payoff timeline.

There is a predetermined sales price2.

So, I developed a system whereby the prospect pays a one (1) time application fee which enables them to obtain rental processing anytime within the year based on predetermined criteria,(i.e. price point, area, type of house ect...), and this one time fee also includes a one (1) year enrollment into my credit analysis program to process and move them toward home ownership (Funnel Pipeline).This is a paradigm shift in one's view towards the market for sure and many don't get it.......LOL.

Hello @Dalton Thornsberry,Instead of pre-determining the type of property to buy, I recommend focusing on your financial goals.

It would allow you to take over the properties at a monthly rate and guarantee the seller you will finalize the purchase by a predetermined date.