We live in VA so are trying to make local connections for partnerships.

City or county permits might be required depending on the work.Fix what you need to fix to make it functional and competitive for the market jt is in.

Things can get clogged (especially the filter) and the heating system may not function.

Those two concepts I fully understand as my father, brother and I formed a three way partnership (LLC actually) that our three independent SDIRAs each own a third of.

You seem to work at a place which functions a little more advanced than most street level deals but I simply don't understand how you are not tapping into the knowledge right in front of you.

I have 2 LLCs, 2 S-Corps, and I'm 49.5 owner in a Limited Partnership and carry 5 million umbrella.It has been explained to me like this, "inside" and "outside" protection.Outside- Protecting YOU and your personal assets from your property.

I agree it is difficult to give specific advice on this deal but let this be a cautionary tale for all those who think private lending is easy and simple and also to those who do off the cuff JV's.Lots of people talk of partnering here but there is very little talk of the contracts needed to make these partnerships work.

If the GC is functioning as a Job Superviso, instead of a GC, then you could handle the situation differently.

Brad,Structuring of partnerships varies by individuals.

We formerly had this functionality, but the groups very quickly became little more than areas where spammers could go and pitch/promote their wares.