My feeling is that the contract will come back signed by all parties.

So we are no way experience at all.Here is the info:- 3 UNITS - 2BD/1BA - 1 UNIT - 1BD/1BA- GYM ON PROPERTY UNDER UNIT 1- SECURITY SYSTEM IN EACH UNIT WITH 3 OUTDOOR CAMERAS- POOL WITH LARGE PARTY DECK- STONE FIRE PIT- SOLID SURFACE COUNTERTOPS- ENGINEERED WOOD FLOORS- STAINLESS STEEL APPLIANCE PACKAGE-Potential Rent Calculated to be: $1,800, $2,700, and $2,800.As a noobie investor looking to get experience, I thought I would help my father move down and help run the property, find tenants, market, manage, etc. until I can systemize it and move back to Boston, MA (where we are currently located).

I was told by a lender that if I wanted to put 10 under my name and 10 under my wife's name, we would have to sign a Free Trader Agreement - in basic terms, a document prepared for the purposes of waiving each party’s rights as to real estate and creating a right to obtain real estate independent of the other.

However, damages, fees, or costs are not recoverable under this section against a retailer who has, in good faith, engaged in the dissemination of claims of a manufacturer or wholesaler without actual knowledge that it violated this part.(3) In any action brought under this section, upon motion of the party against whom such action is filed alleging that the action is frivolous, without legal or factual merit, or brought for the purpose of harassment, the court may, after hearing evidence as to the necessity therefor, require the party instituting the action to post a bond in the amount which the court finds reasonable to indemnify the defendant for any damages incurred, including reasonable attorney’s fees.

One's tolerance--and desire--to navigate some of these issues stands to vary greatly based on whether it's a true labor of love or something you hope to hire out free of worries.With the cabin--before diving too deep into financial calculations--it would be good to get a clear assessment of its condition.

Evict, do unit turn then re rent it to another party.

Be truthful, stand behind your word and act accordingly. 

With every property purchased, a 3rd party inspection and appraisal should be required.

This is somewhat of a unique situation that really just depends on the parties involved so I don't know that anyone is going to be able to give you a definitive answer. 

I am definitely doing some of my numbers to see where we stand financially and see where we could improve. ( credit card debt, school loans, etc. ) how long after u decided to REI did u you purchase your first home?