I used this for when I looked here in Chicago and Found an attorney that makes my life 10x easier with communication with the title company, receiving documents and forwarding documents plus all the emails they handle.

., however we find it to be pretty effective on dialing in what should and should not be considered. 

Two other very important factors not mentioned or given short shrift are the 1) high unemployment/underemployment rates and 2) the dampening effect that the housing crisis has on people's propensity to buy.  

Since I have been playing for a while and the industry is getting smaller due to regulations which reduces the traffic and the number of recreational players (which makes the game less profitable) I think is the moment to start transitioning to Real Estate.I am literally devorating everything in BP, just bought the 2 books of Brandon Turner (hey Brundon if you read this just let you know that I love the way you explain and the methods of teaching you follow, I really find them effective for newbies like me) so I will be trying to educate myself in RE as much as I can in order to be succesful in the future.If there is someone out there who is also starting in RE, in spanish market and want to connect me to talk about whatever or just for future networking, dont hesitate to do it!

Figure out what you can, can't, or won't help others with in writing, and communicate that to them in great detail, however it makes sense.

@Rob Nichols, the main reason I believe you ARE worth (at least) a 50/50 profit sharing is that I believe he will be paying himself along the way out of the $500k development "cost", which means that anything less than 50% to you will mean that he is double-dipping.You should not underestimate the value (and risk) of the $350k that you are effectively providing.

If all 3 are in effect you will hit a home run.

I still think the FED will be very hard pressed to raise interest rates substantially, because of all of the negative effects, savers be damned.    

If you are on a month-to-month rental agreement this will be easier to do than if you are on a long-term lease, because the time-line to make changes can be shorter.Also, you need to know more about who is residing there so you will be better able to tailor your communications and also to protect yourself and your property.

I keep in touch with a lender that was recommended by my agent and who I used for my last purchase and we have become great communicators with one another.