We had originally thought that Bob could lien the property for the construction costs, but, the profit will be directly related to what they end up selling the property for, which is usually an unknown until the final hour.  

Buyers usually want to get 1 to 2 multiple or 100,000 to 200,000 price.

Usually getting higher umbrella insurance is enough for most situations.

Any deed passing or constructive sale (legal term - risk of loss passing) will negate his opportunity to do a 1031.  

With these types of people, I usually tell them that $700 a month isn’t really very much at all to pay for a three-bedroom home with a full basement, fenced in backyard and a garage.

Refinancing usually comes with a lot of fees- they don't really talk about that so much-  so you want to make sure you get your money's worth when you do refinance!

In listening to podcasts so far on REI topics, I get the impression that lots of folks start off managing their own properties before they get a PM, and once they do they usually have lots of properties which seems like an incentive for a good PM to take on their business. so as we get started I'm wondering - how do you get a property manager to manage just one property when I first start?

And they specifically said they would not make any negative reports to the credit bureaus during that time.

Reits could throw off around 150k annually on 2 mil and nnn depends but usually less without financing.

You will usually not get much of the deal generally just a small slice as the larger JV partner is doing most of the work to entitle the land and develop it.