Just remember, it's a challenging journey that calls for commitment, determination, and a mindset that's open to growth.

Below are key items I've seen in teaming agreements:Ownership Interest: Define each party's ownership percentage based on contributions like the down payment and ongoing costs.Financing Details: Clarify who pays for what—mortgage, closing costs, renovations, etc.Expenses: Outline how regular costs (taxes, insurance, upkeep) will be split.Management and Maintenance: Decide who handles repairs and improvements, including decision-making processes, funding, and responsibilities for performing or managing the work.Single Decision Point: Avoid deadlocks by assigning one person as the final decision maker.Dispute Resolution: Agree on a method (e.g., mediation or arbitration) to resolve conflicts.Life Changes: Plan for marriage, divorce, incapacity, or death.Exit Strategy: Define how a party can sell their share, including buyout terms and a method for determining the sale price.Rental and Use: Define the rules for renting out the property.

You could buy 5+ cash-flowing houses and let a professional PM handle the load.

We are going through a challenging time that will make us stronger.

With a Condo, couple things to note:1) Financing can be a challenge, but as long as the building is in good condition, you should be fine.

If you’re someone who’s doing something similar or have been in my shoes, I’d love to hear your story and the challenges you overcame.Looking forward to hearing from all of you! 

So, lots of challenges and risk but you could actually end up with a good deal.

We’re talking $2,500-$5,000/month cash flow from one property, 8-12% cash-on-cash returns, and zero management headaches—we handle it all.

For all multi-family properties we always handle the lawn care as there are common areas so we can't expect the tenants to care for it.When sending the security deposit claim we state the additional cost that is owed for damages even if the entire security deposit is claimed for other damages.

What is the best way to handle it so that both LLC members have a skin in the game?