Given the expense, the necessity of 3rd party oversight, the nebulous nature of DOL interpretation, and the likelihood of inadvertent violation, why even discuss this?

The parties can be prosectued and the client will lose all entitlements, it's fraud.

A contract is simple a written agreement between both parties, so in reality you don't have to have anything too sophisticated.

In the operating agreement you can define in detail the roles of each party and whether or not they can be involved in day to day operations.

So far, we find the most difficult part is finding funding.

Michael Lauther,Do not forget that the money from the payment belongs to the IRA as the IRA was the insured party.

Around here it's about as expensive as the divorce and unnecessary as the parties can simply leave the relationship and give those public notices you see so much as you move forward with the divorce.See an attorney about legal matters, a loan officer to apply for a loan.

I would go talk to the parties living in the house to work with them to try to get into the house to look and if purchased leaving the house in good condition. i.e a couple hundred dollarsto leave peacefully or the ability to live in the house while you foreclose, first month rent at another location etc.

I am considering putting a multifamily property under contract and would like some third party fly by opinions.Units: 3Rents: 950, 1050, 550Ylr Gross Rents: 30,600Documented Expenses (Unofficial): 14,300Asking Price: 175,000Heat Payed by: LandlordThe property had two large usable backyards.

BEWARE,BEWARE,BEWAREDo your homework, NEVER send money to a third party upfront.