Thank you to all who are serving or have served.

Hello my name is Jorge L Garcia from San Antonio TX.

@Chris L. - I second all his points, and as Brian mentioned, finding competent Property Managers help.

I agree with @Steve L. about the ownership situation.

Thanks @Carson L. look forward to your findings!

Using your numbers, @Bryan L. : Finance costs as a % of profit = $7000/($80000-$50000) = 23% Finance costs as a % of ARV = $7000/$80000 = 8.8% JV partner cost as a % of profit = 50% by agreement We can split hairs and argue why CA and TN are different and how HML fees vary, but neither will come close to the 50% cost of a JV.

I've done a couple of out of state L/Os and I would call a property management company to show the house and use craigslist to market it.You have to have someone on the ground though and sometimes finding a good PM is hard.

Brian knows much more about the L/O than I, but normally the $10k option money is Not refundable.

That's why I added the remark about the LLC, it would serve the same purpose.The thousands I referred to was an old memory from back in the mid 80's early 90's when I was self employed before, the timing was really bad, both insurance and other fees came due at the same time, about $2,000-$3,000 worth, so that was the end of my small construction business, 22 over years ago.

During this time I have also served as project manager of many of my remodeling projects.