There's a lot of guru-ish language but he gives excellent pointers about what factors to look at and how to determine what cycle a given market is in.Be careful to avoid analysis paralysis.  

When you made the offer to buy contract you included language that gives you the right to "assign the contract" at or before closing.

We are working on a new construction project in South Boston which included demolishing a house and it's probably 3-5x longer waiting for approvals, meeting with city officials, getting utility/site work performed, etc than it is for the actual building of the house.  

Accounting is the language of business, to speak clearly about business we express many values and monetary functions in accounting terms.

I've been in partnerships with family before and keeping it official and documented always helps.

I also strongly recommend you add language that:a) The option rent will never be less than the preceding rent, b) The rental increase calculated with the CPI will not be less than $x.xx (what we call a floor).

Again, I would recommend that you have a real estate attorney review the management agreement as they vary from company to company and state to state.At this point I would have your attorney send them an official termination and to turn over all documentation and accounting for the funds in a timely.

is it there annother alternative to protect myself from these that i dont know about.I do check official records, water liens etc . dont bid in cases where the hoa is the plantiff anything else i have to be aware off .

Since my Dad has passed, could I reinstate myself as the principal managing member and add another partner (to keep it officially a partnership rather than a sole proprietor)?

I just graduated college finally and finally taking the real estate class and will be officially licensed in Connecticut.For those of you that do not know or remember I have been involved in real estate investing for over 5 years now helping my dad who has been doing it for over 20 years.