That is where I stand now.

Turns out there's NOTHING that they can't avoid having you get.I could walk through my house right now and EVERYTHING that's in here I could refer to as (1) a family heirloom, (2) used in the preparation of meals, (3) used in the normal course of my business or occupation, (4) covering the lein of a third party!

Kelly,Put in any clause you want that is legal in your state.If the party signing for the legal responsibility is not able to fund the penalty guess who will be next in line?

A landlord can not transfer some responsibilities (heating, water, functional roof, doors and windows functioning, safe electrics).So, if you have an agreement and the tenant is following it you pretty much have no leg to stand on if you feel something is wrong.

MikeNow that's an idea . . . not the party at Cash's place, but a Ski/Snowboard Real Estate Networking Fest!

Thanks you, John Can you give us the details as where you stand with the loan?

If so, and assuming you're going to do hard money for the financing (that or cash, without the CO) then the 70%-repairs rule of thumb applies.ARV = $320,00070% = $224,000repairs = $100,000Max price = $124,000Pay that, and if everything works out as you expect, you stand to make about 15% or $48,000.

Even if the other person is a related party (wife, other relative, business partner in other deals).John Corey

Do you know where you really stand as far as what you owe vs. what you would net on a sale?

That way you can more clearly define what you are responsible for and what the other party is responsible for.Granted a partner is not all that much better than hiring a contractor.