For the first time a parent has requested that I change the lease to remove the jointly and severally clause, because they don't want to be responsible if the room mate on the lease doesn't pay their fair share.

As a landlord, I have a 'jointly and severally liable agreement' with 4 tenants.

We were the lender and had 50% of the profits, so we did a traditional note and mortgage for the first position lien then did a joint venture agreement for the profit participation and GC fees etc.In this instance it would be the same except you also have the HML who would just record the 2nd position lien.

(Long term investors) Or other builders in Houston or wherever that want to joint venture or work together some kind of way.

I'm not interested in selling my property, but would be open to discussing a Joint Venture.

They found a way around the full nude and alcohol issue here in Ohio by making the joint BYOB and charged for the mix.

If you're not planning to own a home for rental investment purposes but own it in an LLC to, for example, accommodate a multi-owner vacation property, you may deduct interest paid on your home mortgage(s) if the mortgage amounts on your primary residence and secondary home are no greater than $750,000 (if married filed jointly) or $375,000 (if married filing separately or single).

So unless you are getting into developing I would let the engineers handle.Storm ponds, storm sewers, joint access driveways, cul desacs, sidewalks, fire hydrant distances, road entrance distances, minimum lot size relative to city setbacks ( say 5,000 sq ft.

On the otherhand if you rented the place to the tenants jointly (friends, couple whatever) and they have been having a lover type squabble avoid the situation and do not renew the lease with either one.

We also setup a joint business account for our LLC that all credits/debits for the property go through.