Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

So getting one involved now and sooner rather than later is a great move on your part.

Eventually, we’d like to build a few houses for ourselves and extended family but that will be a lot later.

It was in fairly good condition, and I KNEW I could easily lease it out, or lease sections to various business, or sell it for double or triple what I paid. 3 years later, having not even received an offer to lease AT ANY PRICE, I sold it for $25,000 LESS than I had paid.

Later I refinanced it with a VA IRRL for better cashflow.

Anyone here made the 'switch' from stocks (pre-tax investment/401K) to RE midway or later in life? 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If you document every call and email, you have them for later, but they still won't stop with these shenanigans.

For LP the question still remains: you want to lose 200k now or lose 500k later, all for to just generate 200 bucks cash flow.I'm an adult, and am responsible for my decisions, including the contract I sign as an LP with the GP.

My wife and I are moving to Hamilton later this year.