America has a unique financial system.

I'd love to take over the business, I just can't live in that area as it is a bit too rural for my taste.Ok, enough back story...basically, I have thought a lot about finding a way to utilize this unique opportunity of having my father's business in the family and finding a way to combine the cost savings of purchasing goods through his business to keep my rehab/flipping costs down and then giving his business a percentage of the sales profits or something of that manner.Does anyone have any insight into how I would go about establishing something like this officially (would it be an LLC, just a simple loan or agreement, etc) or any other ideas of how to capitalize on this opportunity?

Repeat this process a few times, and it doesn't take long to build up your cash reserves.As crazy as it may sound, deals like this aren't unique.

In my old home state, those who have legitimate hardships often have to file a chapter 7 bankruptcy, make a list of all their toys, & stand in front of a bk trustee in a public forum where that trustee grills the debtor *under oath* about their posessions, with complete authority to seize anything he wants to pay those bills.

I got a new toy last night and was looking in the app store and saw there are quite a few property managment apps?

Every investors situation is so unique, that I think each one has to start with their priority (ie., I want $300+ in cash flow) and then look at those properties that come on the radar to see if they fit your other reqs:- upside appreciation?

The decision whether or not to pay off your mortgage is a personal one, but generally leverage is a tool uniquely powerful in real estate to enhance returns.

Can't speak for elsewhere (but I think PA is unique for that).

We just released our 38th show earlier today -- BP Podcast 038: Unique Strategies for Buying Real Estate with Travis Daggett -- and should cross the 500,000 listen milestone for our podcast sometime this evening!

Now, if you put a deal together for a partnership that required adminsitrative duties, unique knowledge and expertise at a professional level, such may be more than sufficient as the contribution to the partnership and earn rights to profits or losses.So yes, services could be a sufficient consideration paid to contract, but you'll need to be able to value that contribution in dollars.If you have no money, I suggest you pay an equitable amount for the option price if you are really in the deal in good faith and make a note for the option price, that is consideration.