I use Free Legal Answers sometimes because all the public advocacy agencies tend to portray statute as heavily slanted toward tenants.

@Thomas S. the protection LLC's offer is legal and demonstrated by courts rulings.

If I were you, I would write down all the monetary outlays and the potential work that will be involved in acquiring/rehabbing (if needed)/managing the property and realistically how much time and energy each partner is willing and able to put into the project, and then sit down and have a discussion about how even or lop-sided this deal is for each party.

Don't get me started on the others.The worst part is that for not much more money you can find something decent on the MLS if you do some digging, from a homeowner that probably took care of it, and using a broker who doesn't have a conflict of interest.

Can they legally do that?

Is there a source for the following data;  I am looking for the "norm" for the expense ratio (based on either GPR or Gross Income) for individually metered garden style apartments in the south east and the mid Atlantic (Region IV) : Marketing Insurance Janitorial Service Lawn/Snow Licenses Miscellaneous Professional Fees Accounting Legal Property Management Fees Repairs and Maintenance Resident Superintendent Salaries and Wages Supplies Taxes Real Estate Personal Property Payroll Other Trash Removal Utilities Electricity Fuel Oil Gas Sewer and Water Telephone Other (whatever I missed)

Now the tricky part is, we recently hired a PM for our local rental properties, but I do the showing myself and have a weekly meeting with my PM about our listings and I still approve tenants myself.I will most definitely sit down with a cpa regarding this matter but I just want to know what are your, or anyone's thoughts on this.Best regards,Alicia

Do not rely on it for legal advice.

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Homeowners pay the price (packing everything up, preparing to move,...) and are then stuck with their own house when they were depending on you following your word to actually buy their house.Wholesaling is legal (state dependent) but include "Being Ethical" in the business plan.