The developers attorney will likely take you to the cleaners if you let them draft everything.Hope it helps.No legal advice.

If they're not actively participating, there are lots of time-consuming and costly legal and accounting hoops you'll likely want/need to jump through to do this legally (pool money).If they are actively participating in the business, there is no reason to provide a return while you're evaluating the properties, as nobody has made an investment yet, and presumably they're doing as much work as you are when it comes to deal evaluation.

My question is basic to most real estate, but I don't know the answer.If they've got it listed with a realtor, can I walk in my friends' house, present my offer, produce a contract, and be legal in it?

Since this is your first time, it may be very wise to seek legal advice from an attorney and even let the attorney handle the entire process.

And, have to admit, I read about the issue from regulatory concerns, I didn't dream this up and sorry, can't remember where, but had to do with legal opinions on the applicability of funding appropriate ventures.

We had people in the congregation questioning the legality of the renovation (CHURCH DRAMA) I just called up the director of the local permits department, I met with him and he explained everything to me very clearly.

All we can do is suggest things and by no means is our information being given as legal advice.

Legal question:Florida statutes say that new owners are responsible for paying previous owners arrears.

Regardless, I expect it could just turn into a miserable 3 way legal battle with the insurer and SDIRA provider since I see their website disclaims “Equity Trust is a passive custodian and does not provide tax, legal, or investment advice.

If the numbers are considered too thin by other investors, your options for making a quick sale may be very limited.Before considering keeping the investment, I would conduct thorough examination of the property and all things affecting the investment today and with an eye towards the future.