If protocols were not followed outlined by the government for safe lending practices that caused the bank to go under the officers can face criminal prosecution.

While we are are technically independent contractors we impose very clear guidelines on our associates on what is not only an acceptable way to conduct business but a more professional way which clearly outlines forbidding the use of bandit signs.  

Just a nice packet highlighting all the important info and a concise letter outlining my argument.

Then if you decide to manage yourself, that money is a bonus rather than a necessity to make it a good deal.Look at where you are from where you started, 29% down to 9% just by adding in a few rules of thumb. 9% is still very good and much more realistic, so don't start crossing out line items like paying a PM because you perceive your situation to be unique.

There should be a section that outlines the Duties of the Agent.

If you're going down that road I think you should be VERY upfront in setting up expectations for each party and outline contingencies should one of you or one of your friends not meet their obligations whether due to laziness, illness, death, divorce, loss of employment, etc.

If you are taking out lines of credit, but you feel like you may be over-leveraged if you use the full line, why not only use the LOC up to whatever amount you feel the property is actually worth?

A book like this outlining the different costs is fantastic.

You can see the deal outlined in this post.  

I would make the driveway a one way where the entrance is from the main road (right of image) and the exit is a service road (left of image).Here is a screenshot of the place I want to purchase outlined in red.Something a little unique about this sell is that it would include a billboard.