And as mentioned over and over, the key issue for sucessful out-of-state ownership is a Grade A+ property manager.Of course after a month of flooding in the midwest where my properties are, it does make you really think about it ...

Not sure of ownership status.

Would ownership that could be ruled invalid be good enough to get construction loan?

This type of deal is probably a win-win for you and sellers as well.For you, you get all rights of ownership on the property.

But again, these guys are right because in a state like MI the typical law is that if you "sell" (grey area since you're never taking ownership) more than 5 houses in a year you need to have a broker's license or be REPRESENTED by a broker.

Telling them "this document gives me complete ownership of your property.

Under the dems, Barney Frank may see to it that everyone is deeded a home at birth as home-ownership is obviously an American right, not a privilege.

I never sold a property in my life, I may have sold the benefits of ownership but the properties sold themselves.I may have sold my position in how I invested, as to how methods worked for me, I never told, much less sold, anyone the idea that my methods were right for them.

I've noticed folks in the engineering industry have a real hard time dealing with the unlimited amount of variables involved in rental property ownership.

@Vlad TaralungaThere's no one fit all solution, as I'm sure you expected to hear.Having 3 people equally share the ownership of something where only one person's money is at stake is a time bomb.