Seeing opposing perspectives and why they are held is such a helpful learning tool.

The property will be held in our LLC name and we will execute a promissory note to the partner for the cash he put up as well as an agreement to split the profit 50/50 on sale. 

Metal cabinets.3) Building code.

The reason we considered the other two options as well is because we may only do one property in our first year up there (or we may do ten, we just don't know), so if we were to hold a flip for a total of say 4 months, we'd be able to pay back what we used via our HELOC and only have to make the HELOC payments while we held the property.

I am looking to unload one of my properties in the northwest suburbs of Chicago that I have held onto for more than 10 years and would like to connect with any real estate agents or brokers in Mount Prospect / Arlington Heights area.Thank you,James

Tenant wrecks a unit.Your reserves should be held in a relatively liquid format. 

If you get approved together, most banks will make both be held accountable.  

That Mess" was a good 15-20,000 bucks worth of scrap metal even in today's depressed scrap market.Some people,,,,,,,,,,,,,

When I was younger, I held a leasing and then real estate sales license but at the time, I didn't plan properly and couldn't make money fast enough to stay in the game full time. 

The tile will be held in the partner's LLC and I will hold a 1st position mortgage against the property.