Any specific clauses that should be included in the case someone bails and the other 2 have to be responsible?

Although it also seems like with on-market deals are usually priced the highest and makes thin margins to work with.

--HELOC is against PRIMARY---Rate is 6.95 first 12 months then prime +2 for a total of 10y, interest only, then amortized--Total HELOC would be purchase price + Renovations (approx 120-130 total but who knows)Projected cash flow is estimated without knowing specific extra costs.  

Hi @Peter MatusI don't have all of the information on your specific situation but that does sound high.

I started this thread to address this product specifically.

One option is a marine loan, which is a type of loan specifically designed for purchasing or refinancing a boat.

ThanksSuper market dependent and property specific.

Nobody can comment on what's equitable without knowing each partner's strengths & weaknesses and the specifics of the property being purchased but here's what I picked up on immediately: Why not form an LLC and have a partnership agreement? 

The margins are so small from turnkey deals, but REI Nation makes these deals easy to complete.

What specifically did you do differently on this property transaction, than an owner-occupied property transaction?