I license all mine properly but here is where I say it is a complete joke and this is NOT what our founding fathers had in mind. 

@Geoff Cavender All the answers you are looking for are already here on BP - you should read these:How to Effectively Conduct Joint Venture Agreements as a Real Estate Investorhow-do-i-properly-construct-a-purchase-with-a-partnershipcreate-an-llc-for-first-partnership-best-way-to-do-sotaking-on-partner-s-and-limiting-our-liabilitesIf you still have unanswered questions after that, you need specialized help - talk with @Scott Smith.

But that's okay I can work with this.. hopefully I'm not necessarily going for a $200k house, just looking more or less on how to properly analyze a deal. 

There aren't many investment vehicles in a TSP aside from the funds the few funds they have.Would it be possible or even legal (I know, seek professional legal advice yada yada) to continue contributing 5% (or more) into my TSP to take advantage of the "free money" being matched by the government and then roll the balance every year into a tax deferred SD-IRA so I can invest that money freely? 

Will it only be discovered during an audit or are there some other checks and balances in place?

But you have to check properties out and put in some time and usually some money (for inspections) to properly dig in and know a property.My best advice- when you start relationships with realtors, lenders, title companies, etc- It's important to listen- but not give them so much trust that you take a back seat in the transaction.

We used one of those legal websites and here is the language we used with repayment specific to our situation.Loan AgreementDated: __________FOR VALUE RECEIVED, the undersigned, NAMES (the "Borrower"), located at ADDRESS, hereby promises to pay to the order of NAMES, (the "Lender"), located at ADDRESS, the principal sum of $XXXX together with annual interest of X% on the principal balance, and in accordance with the terms set forth below.Payment.

If they don't foreclose it could sit for years on their balance sheet until they sell it in a pool of distressed debt. 

http://wfpl.org/the-future-of-floyds-fork-louisvil...I frequently kayak and kayak fish at Floyd's Fork. There is a lot of land available and the area and I've always thought it was a matter of time before you saw more...

To be properly conveyed, the correct paperwork should be filed with the county clerk.