A JV Agreement contract should be worked up by an attorney to protect both your interests and outline roles and responsibilities. 

This letter contains instructions on:- how to remit rent;- when late fees and notices to vacate are assessed / field in the case of delinquent rent;- A page of contact numbers (ours, plumber, electrician, etc) and e-mail addresses;- An outline of any near term renovation / rehabilitation plans for the property;- A form for the tenant to list defects, maintenance needs of their unit;

@Blanca MunozIn real estate, other people’s money (OPM) is a term that refers to using leverage to buy real estate.Here are a few of the ways you can possibly invest in real estate using OPM:Seller financing – Title to the property is transferred to the buyer along with a mortgage or deed of trust and a promissory note that outlines the terms and conditions of the loan the buyer now owes the seller.

Here is a great thread outlining books recommended on the podcastshttp://www.biggerpockets.com/forums/311/topics/114...

If you are going to base the profit break down on funds invested then you need to outline, in detail, all of the work that will be required to make a successful deal. 

He added a section “Conditions to Advances”  – the work relevant to the draw is completed, you will present invoices or receipts, you will have lien waivers from any contractors who have worked up to the time of draw request.draw request must align with what is outlined in the SOW.....I feel like I'm being micro-managed, instead of in control of my rehab!

Yes, I have dealt with this issue several times, my experience is as outlined above.

I’ve definitely been trying my best up to this point to follow the six steps you’ve outlined.

I love that he keeps a procedure for literally everything and he outlines his extensive tenant screening process with specifics.

Your whole deal as outlined just sounds like a disaster waiting to happen.