Also, long term holding is ok with me but what is the minimum duration before you can pull your principal and earnings out? 

Let's also beware of the recency bias, according to which we assume that what is true today will hold true forever.I'll explain further why the US middle class heartland might actually be one of the worst places to invest in real estate today if your horizon is the next 30 years (the duration of the typical US mortgage). 

I made the mistake of focusing on the terms of the carry -- rates and duration -- rather than thinking through the risk of being in 2nd position in a declining market. 

Operating agreements function as a legal contract between or among members of a multi member LLC, though even single-member LLCs can benefit from one, too.Joint Venture Agreement: In its simplest form, this will outline what is expected from each party throughout the duration of the partnership.

Or, you can just put everyone up in a hotel for the duration, but that depends on the timeline of the actual elevator downtime.

Best thing to do is to map out (understand) your duration expectation (how long are you planning to hold the property / debt). 

They can be complicated and are rather pricey but if the numbers work and are structured correctly they are designed for exactly this type of situation.Basically a land ease of at least 30 years in duration if structured correctly can be viewed as being real estate itself.  

From what I've read as long as both parties sign and agree the lease can be amended during the duration of their original signed lease.

I've recently talked with 3 different homeowners who have been in negotiations with this bank attempting to find a resolution for a duration of no less than 6 months and one has been dealing with them for a year and a half.

I offered $211,828 with 5% down and asked for seller financing at 0% for the duration of the rehab (a time defined as not more than 9 months) with a cash balloon payment at the end.