The reason I ask is we are pitching this model to friends that may want to invest and get involved and I want to build an accurate performa.That being said, do you all have insight on what the original startup cost is for furnishings, small appliances such as coffee machines and first round of consumables (ie coffee, cleaning supplies, toilet paper etc)?

I understand that this gentleman had personal reasons for not wanting any form of law to get involved, but that still does not convince me I could get him out of the house when I want him to.Has anyone ever dealt with an issue like this?

A lot of us own equity together in certain wholesale projects due to us actually being able to afford them with ease with multiple people involved in it. 

An LLC cannot represent itself in court, but to my knowledge there is no requirement that an attorney prepare a deed involving an entity simply because it is an entity. 

Now I get to meet and help people while staying involved in the real estate community.

Show you are an authority in your market.Here is the most important thing.Most people read these posts andsay .. well crappers, that is a bit involved dude.. yeah yeah...

It all comes down to your tolerance to risk and ultimately what you are wanting out of a property: Cash flow, appreciation, least amount of involvement vs. high involvement, safe haven for funds, etc. 

When I think of some of my most cherished memories as a kid, they involved pizza picnics on the lawn (my mom makes amazing pizza), going berry picking in the bush with my parents or grandparents and time at the lake.

If you do engage an environmental engineering company to do a Phase 1 report, be prepared for them to recommend a Phase 2 that would involve drilling soils samples as their further action recommended.

The majority of the value may involve the desirability of the land, not the structure itself.