HelloI'm considering a possible JV with two other investors and want to find out what the best practice or option is for protection.

Tub was cracked due to not being supported. 2) No access panel required by code for the pump, the pump was in the rear of the tub buried under the tub deck. 3) No thermostatic anti-scaled mixing valve required by code for the roman tub filler 4) No dedicated circuit for the pump required by the manufacturer, the electrical for the tub was piggy backed on the vanity lights 5) no GFCI protection on the tub as required by code  6) no grounding of the tub motor as required by code 7) ABS drain glued to PVC drain pipe with ABS glue 8) the tub valve connections  uried with no access were IPS threaded stainless steel flexible water lines instead of hard sweated copper connections, (lost count on all the shark bites they used, they must buy them in bulk) 9) all the tile was tiled directly on the plywood of the tub deck, no underlayment to prevent the tile from being popped and the grout cracking from moisture getting to the plywood...the list goes on and on.. oh and the tub filler valve was located on the back side of the tub, not a code violation but certainly not user friendly for somebody to have to climb basically into the tub or over it to turn the water on, but that's minor in the scope of all the code violations and poor workmanship, that's just poor design. 

Most of those are investors who have LLC's for asset protection.

Could you buy the redemption rights from him to protect yourself?

What can we do to protect ourselves from issues resulting from that.

I certainly don't mean to shift the blame, but we all need to be pro-active in protecting our business.

Now I am trying to form a LLC as everyone says LLC is the way to go to protect my personal assets from any trouble in future.

In both cases, lenders must qualify to become designated GSE lenders by demonstrating financial strength, underwriting expertise, loan servicing experience, and capacity to generate and handle meaningful loan origination volume.

The downside is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

Banks are NOT people, they don't care about anything but getting their money and protecting their equity position!