I was advised not to use a joint venture agreement, since I wanted to keep my LLC and another parties accounts separated and not wanting to open up a new account.

We normally file jointly.

@Sarah Brown Is the lease not a “jointly and severally” termed lease?

In order to get a loan from the bank, do we need to form a third, joint LLC which would include my LLC + his LLC?

.- Check window trim for wood rot (I have a constant bone to pick with window replacement companies that offer window wrapping for older homes, completely hiding existing trim as it degrades further and lets in more cold air!)

There are no real short cuts other than experience or working jointly with someone who has been doing what you want to do.

Once done it should be worth at least $120k but im hoping for $140kmy first price quotes for the demo were $13k, $11k, $9800, and $4200 ( a contractor i used prior)the demo is done now ( took 3 days down to joints)My quotes for remodel were $110k, $80k ( i would still have to provided appliances, granite, cabinets, all bathroom supplies), $35k labor only( i buy all materials)I'm going to go with the $35k labor and contractor said materials should be more than $20k so total including demo should be 60k, but gonna have a 10k fluff space.purchase plus closing fees: $9800Renovations plus demo: estimated $60k-plumbing-electrical-hvac-drywall and stods-roof repairso im looking around 70k plus inspection fees ( plan on refi after 6 months to cashout)wondering how much i could rent for in the area?????

The offered agreement is a joint venture, 50/50 of profits.

They like to challenge me on things constantly

Research tactics, joint ventures and what not to do.