I am wanting to find out if this sounds like a good deal and if so, how do I protect myself on paper and ensure that I am legally entitled to my share of profits?

In the past I used Landlord Protection Agency  www.thelpa.com.  

This gives you the maximum amount of protection and allows for both partners to easily exit this deal.

Additionally, the fact that his company filed for bankruptcy protection in 2012 definitely made me glad that I didn't really take the book to heart. 

The purpose of title insurance is to protect you against problems from the past.2.

A general partnership is a big no-no in TX; there is no liability protection AT ALL in a general partnership AND you are personally liable for all actions of all of your partners including your own actions.

Real estate agents, mortgage lenders, title companies and escrow companies are familiar with harried changes to the HUD-1 closing statement and to mortgage documents, which changes often lead to aggravating delays and additional costs.As of August 1, 2015 our closing table dramas are scheduled to come to an end.The Real Estate Settlement Procedures Act (RESPA), Federal legislation enacted in 1974 to protect consumers from unscrupulous and confusing real estate practices, is changing in several significant ways.

Terence Williams I just completed a rehab of a bank-owned property, so I can definitely give you some insight into how it all works:When you buy the property, you buy it "as-is/as-seen,"of course, so make sure you do your due diligence and take all the necessary steps to protect yourself before pulling the trigger.

Copy/paste with names changed to protect the innocent:XXXXXXXX BankATTN Wendy (Customer Service supervisor)VIA FACSIMILEWendy,Thank you for taking the time to speak with me regarding my request for information on the loan secured to property owned by my company.

When you buy a property, the sales cost is the default evaluation esteem for assessor purposes.So long as you have not went into a false exchange, you're protected accepting you'll pay your taxes in light of the sales cost.