One thing that zillow does not account for very well is condition and quality of a home when making comparisons to conclude a value.

Get a real estate lawyer to do this for you.

The appraiser is required to disclose any condition problems that are more than "cosmetic".

So that means you're going to have to partner up with someone who can provide the cash and you guys work out the terms and conditions to your agreement.You're going to have to be creative (think outside the box) and come up with a list of ways that you can attain the necessary cash to get started.

Consult a lawyer or one of the numerous books on running an LLC to get the correct wording.

I'm needing a detailed contract that will help me write my own to rough draft for my lawyer.

With the current market conditions are you sure your home hasn't gone down in value?

A contract that I will be a rough draft for him to view prior to us each submitting it to our lawyers.

Mostly due to the current conditions and mostly because everyone wants to hold out for that ONE great opportunity that sometimes comes and sometimes doesn't.

Since these are investments and not owner occupied properties, the lender may well try to come after other assets.A talk with a knowledgeable real estate lawyer might be in order.