It sounds like you and your best friend have a solid plan in place and are eager to get started.Regarding your question about structuring your business, you're correct that forming an LLC is a common route for real estate ventures due to liability protection it offers.

Smaller banks will typically have a commercial lending division and offer construction loans.

I don't know a single county that offers 14%.  

Hey Jessica, Columbus OH has boomed in recent years offering a strong real estate market!

I found it on the MLS, my realtor offered on it!

I found it on the MLS, my realtor submitted my offer.

Have a conversation with your partners and mention to them that you are interested in buying them out.Make sure to factor in closing costs on the future sale in your offer.

I was looking at the Dawson Creek offering in Atlanta GA.

My realtor submitted the offer and we closed!

@Quiche LynnI think your confusing the term noteThe note is a promissory note - meaning the document that she signed stating she will pay this person this much money.What it sounds like is she wants to send a settlement offer to try and renegotiate the deal?