Much of this can be learned, but skills only come from two things, ability and practice. :)

I've used a partner's money with my ability to take the mortgage and we split the net.Good luck!

Another concern is his ability to cover liabilities in his LLC, another hard look which makes me lean to a new LLC, you may not get hung in his company and you may have priority, but if he folds you'll still have problems. :)

Now on top of that you want to play with a pool, I hope you have good access just in case machinery is needed for any potential repairs.Not saying any of these will happen to you, that's why I asked about your estimating/construction ability and experience.

They comprehend that with English being the primary language spoken here, and their weak English ability, that they will need that translator to get by in finding a rental when the landlord isn't fluent in Spanish.So far I haven't had any Hispanic tenants who were incapable of understanding English, although I do have some who rely on their children to explain some things when they don't quite fully understand.

If you have found him other deals, with 30k plus in them, and you have the ability to find these deals, hire the contractors and sell the houses,them, maybe this is your time to get into the rehab business and add another major income stream for your self instead of your unappreciative investor.

They have provided financial information showing their ability to pay the rent.

Same with a Realtor, getting it sold at the list price doesn't prove their ability to assess a true value estimate.You'll never see an appraiser say, this house is worth $98,400, they will say the market value estimated is $98,400.

I have borrowed a ton in LLC's and corps, but they have to have a clear ability to pay it back from cash flow or have significant assets.

All state recognize that life goes on, however you may have an issue if this is a business venture demonstrating your ability to earn money in the future which may sway a judge to dig deeper in your pockets.