Failure to memorialize the contract in writing does not remove any of your obligations to the tenant, however, absent a written agreement the "rules" of your lease will default to state law.

My first rehab flip was a failure had to have my mom and dad rescue me.

He will be selling the properties to me for about 35k each and they will rent for anywhere from $600 to $800 a month on a 12-15 year note with the bank.With his knowledge and history in this market I feel that my mentor is steering me on the right direction and not setting me up for failure.

I tried to deliver high level business strategies as well as insight into our successes and failures as a company.

Just curious about the successes and failures that you have seen in northern Utah through your own experience.

Any failures?

Both of us have run small businesses and multiple side hustles in the past.Most young people are completely unequipped to deal with failure, and it's only getting worse generation after generation.

@Jay Hinrichs I agree with 99# of what you said I’ve spent almost 15 years in government built housing and there is one thing you can say about ItAcross the board it’s an abysmal failure.

I think if you are starting out and only have a direction you want to go vs a foundation of success and failures to build from a mentor is worth a lot more money. 

Successes or failures?