Brandon Foken,Thanks for the response. you understood it fine.

As I understood it, the LLC will have its own umbrella policy and each individual property will have its own property insurance.  

Again, in our case, it is all about communicating with an investor on the front end for what they can expect and being transparent about how we handle scenarios that may not go smooth or as expected.As for real value, so that I'm not mis-understood, there is real value to a higher-end renovation.  

Completely understood, and I would never ask for earnings/income claims (for that reason and others)...

The Agent is party to this contract solely for the purpose of enforcing rights under this paragraph, and it is understood by all parties that the Agent is acting in the capacity as Agent for Landlord and Tenant(s) must look to Landlord as regards to covenants, agreements and warranties, and that Agent shall not be liable to Tenant(s) in regard to any matter which may arise by virtue of the Lease Agreement. ............"

It sounds like you understood my last post about the combined interest.

Here is exactly what that one paragraph says;"It is understood and agreed to by all parties that (salesperson name)_______ and (real estate agency name)___________are acting as an agent solely representing the buyer in this transaction (buyers agent) This form does not create an agency relationship in accordance with SC code of laws 40-57-139"So I am a little confused by the language.

The property was owned at the time by 5 partners who from what I understood had no legal operating agreement in place as to who had the legal right to make decisions on behalf of the LLC, causing some in fighting between the partners.

But, as I understood your original question, this is a situation where your friend is asking if he can impose himself in his daughter's apartment, whether she wants him to or not, if he's a cosigner.That's an entirely different picture, in my opinion. 

I walked away from that meeting on cloud nine because he completely understood everything that I explained to him and how wholesaling worked.