@Matt WeddonLegally, you’re covered as long as you stick to objective, non-discriminatory reasons for rejecting someone (things like personality or ‘vibes’ don’t cut it in Fair Housing law).

There’s definitely potential in finding distressed assets and adding value through smart renovations.Setting up an LLC in the state where you’re flipping is a great move for liability protection, and working with a local attorney will ensure you’re covered on state-specific legalities.

Additionally, they made the argument that, as a large company, if something went sideways with an investment, they would cover the losses.

3. what type of deposit / reserves can you provide in case the monthly rents you receive do not cover the rent you pay me?

Our goal has always been to bring in enough cash flow to cover ALL of our living expenses. 

Early on, rents would remain market-aligned to ensure the portfolio generates the income needed to cover expenses, pay investors, and reinvest in expansion.

AND The balance on one statement is < 100 and other not enough to cover the first months rent and deposit.

You'll have proportionally less upside and thus less room to cover errors and overruns on a project with a new team you'll be far away from. 

The discussion needs to cover both wages and housing.  

I understand credit enhancements and additional guarantors are sometimes required but to be unable to cover escrow funds and to give away deal ownership for that service is kind of crazy but back to the main point, the real issue is when the Co-GP is not truthful about their true role or embellishes their portfolio/ unit count.