When we took it over, we gutted the kitchen and bathroom (gutted = new floor, new cabinets, new appliances, new electrical and had What was the outcome?

Likely this would be an LLC with a Joint Venture agreement, but we have to ask some stupid questions and we're having trouble finding much concrete information out there on how to structure partnership deals (the advice is always "Any way you want to!"

Pay attention to this upfront>>Will you be required to build a fire Station along with buy fire engines if you exceed X residences--required by a municipality or required to have your built structures qualify for market rate insurance polices...because if the insurance on the structures is 10 times normal the valuation of the structure might be very very low.Pay attention to this upfront>>>Can you get the skilled labor (and CONCRETE) out there in a reliable manner.

Fixing up floor and a new paint job, redoing the kitchen and bathroom which were very ugly and getting rid of the smell...

It sits on a concrete slap and has power.

Sometimes seeing a home while its raining is a great thing.Inside 1. level floors(some sloping is natural in older homes) 2. lay out.

This home has a main floor as well as an upstairs that is closed off and used as an apartment years ago.

I also about floor layering and how hard the layers are to remove.

More details:--5bd, 2 full bath, 2 half bath converted into 5bd, 3 full bath, 1 half bath--1960s home, complete gut, open floor plan, new electric, plumbing, HVAC, kitchen, baths, etc. completely new house: higher end upgrades with everything tile, custom built ins, etc.  

I believe this house will require 2 new bathrooms, 2 new kitchens and some flooring repair.