You are taking on liability as you are directing them, so you need to make sure that you have a formal signed consulting agreement (not a property management agreement, unless you are licensed) and make sure it spells out what you will and will not do.

__________________________________Again, I have been told by two (reputable) lawyers who work in the asset protection and business law fields respectively that this is NOT true in my state.I urge anyone here who is serious about this and has assets to protect to consult with a lawyer who practices in the state where the entity would be formed, then make up your mind.

Consult with them about areas.

I would have to say consult an attorney, I mean ultimately from what you have shared it would appear that they have broken the terms of the contract and you have legal recourse.

Not sure exactly what you are asking here, but I would recommend you consult a lawyer, you want to make sure you have everything set up properly for what you want, also make sure you have a contract between you and you husband that states exactly what responsibilities each of you will have in regards to the property (choosing tenants, managing repairs, checking in with the property manager, etc) and how you will make decisions about when/if to sell the property.

You need to find a good consultant in your area to inspect it and give you proper advice.

I know this thread is a few weeks old, but how about consulting with an architect that has experience with similar projects?

I’d want to make sure my professional had insurance and consult my agent on the design activity, see if I need to be listed as an insured on the pro’s policy as I am with all my subs, etc.

Sorin,Most of the true professionals here who have created LLCs have done so after consultation with both CPAs and attorneys specializing in estate planning, asset protection, and so forth.

Every successful person has a mastermind group that they consult with.