Just to make it clear, I'm not hiring people, letting them do all my work, and then not paying them anything.I'm teaching them how to flip houses on their own then splitting profits with them when they complete deals.Please tell me how you think this is illegal.

It took awhile and a lot of hard work and not to mention the sacrifices...I could write a book lol!

Knowing that, we are committing to the 4.875% for the life of the loan or for the time we own the property, and at that rate the numbers work, and because we would like to put as little down as possible at this time.Kelly 

This platform would allow those in the industry to Meet, Chat, Connect, Share and Learn- A combination of Linked-In, Facebook and Meetup but  more locally focused than national/worldwide. ex: For state of Georgia/Nevada/Texas/California ONLYSince Real Estate is a local industry, this will allow people to network locally and ultimately help each other complete work and get things done. 

I typed up a statement of work and percentages I would pay at each stage.

In order to make ld contract language effective, the owner would have to negotiate the appropriate contract time extension required to perform the additional work and ideally this would be done at the same time as the financial considerations associated with the performance of the additional work.I hope that I didn't make the issue more confusing. 

Based on the numbers (see below), if he agrees to this set up, I will invest $50K, he invest the rest (roughly $52K based on the spreadsheet below), he will do the work and I will take on a passive position.

Thank you and welcome to BP also:) I will definately do that when get the details all figured out:) We are in a nice area, muskegon co, im looking a some perspective properties , 15k and under that dont need a major flip, and would be a great investment for an investor and we would do all of the work, and sell or possibly rent out but we could manage them also, we recently completed a rehab for Altisource rentals, and it was rented out within 30 days after we completed it , there is a big need here ,alot of vacant.

And for us old school guys  were in our day if you wanted to get into RE you got your RE license and went to work and worked yourself up the food chain.. the whole reason this education industry exists is Americas fascination with they want it all now syndrome.I mean look at turn key industry they take uneducated buyers and put them into properties for far more than they are worth.. does that make them a guru just making money a different way..

In September, the town came out to the property and did some work and proceeded to put a lien on the property, which is also showing the owner's name, not a bank.