if you partner with the experienced investor and if he is as experienced as you say he is and you have 50k to invest u have to realize he will expose as little as he can to u for as long as he can.

With so many contracts out there I just wanted to make sure I have all bases covered....some "gurus" refer to getting options agreements first and some dont..what do/should u do?

Next, u need to grasp the ability to know what to fix, how to improve floorplan layouts, and what to put into homes for your market to get the most for every dollar spent.

I would find out more about the deal (if he has GC... him to provide contractors bid for work w/ license)I would restructure deal and loan about 50k MAX (on this deal)Int rate between 12-15% (depending on his experience)That should get u startedRich

one thought is to hire a PM expressly to rent your home to a qualified tenant and then u take it from there, verifying for yourself that your new residents are in deed well qualified!!    

Let us know what u decide.

Did u find someone..I know someone who can def help you out

\This is a once and a while thing ,but i still need to master it when the occasion comes up,,Building a spec home in L.A would make sense if u could buy the lot right,I have heard the investor should pay no more than 20% of the APR for the lotAny help greatly appreciated,props and congrats to J Scott on his new books,,,,,,,DD in Los Angeles

(not sure why u pointed that out, then stated will skip that)anyways, my estimates are on the conservative side for a full bath remodel, whether small or standard.compare:http://www.nkba.org/Learn/Homeowners/Tips/Remodeling/RealWorldBudgetingForBathroomRemodeling.aspx

Have u asked a potential lender?