You may have months and years where you're in the red, but if you have adequate finances behind you, you should be able to absorb those.But if you take one thing from my rambling, let it be this: Come to an agreement (written) with your partners, specifying what will happen if it goes to ****.

I'm sure it came out beautiful.

@Robert Obniski Looks beautiful! 

That to me sends a red flag.

I LOVE running through potential rehabs, and seeing the vision of a beautiful home.

I partner with another BP member here on the Cape, If it needs more $$ out of pocket than you feel comfortable with we may be interested in knowing about it as soon as you give the red light to the other party.

For ease of conversation, lets say that all the work is done correctly, it all looks beautiful, and everything came together perfectly.Can I get some input on the pros and cons of this approach?

BUT, you have heard that the IRS has some "red flags" on tax returns that cause them to take a more in depth look at your return and possibly audit you?

So I connected it to the 2nd floor unit with a beautiful staircase, put in hardwood floors, and stored some really furniture and a big tv up in the various rooms.  

@Jasmine AndersonThanks beautiful.