Any other legal advice is ILLEGAL and may be very incorrect.Seeking advice from an attorney in the area where the property is located can be a wise and very economical decision considering the alternative.

I have yet to complete a transation like this myself)When it comes to different sources of information I have found a man named Lance Edwards (Sweet we have the same last name :D ) who i noticed had a course on how to flip apartment complexes.( I don't know if BP will let me post links to the courses ive discovered but ill post them here anyway (if id doesnt work feel free to pm me and ill msg the links to you that way)His wholesaling primary course is at - Its a good chunk of change though $997 http://www.apartmentwealthmachine.com/flip.htm A lesser expesive alternative course i found that he had is his $697(which i found on reiclub.com may have a more updated 2.0 offer available same price though)course is called Multifamily Success Home Study Systemhttp://apartmentwealthmachine.com/homestudy.html*beware though i read one review somewhere that this info could be slightly dated. have yet to confirm.Also if your looking for extra sexy free resources outside of our wonderful BP community I have found that 2 of my favorite online mentors Dave Linhal and Ken Wade are giving a whole 24-29 video course on how to invest in MFH sexy part it really is free!

A balloon note is viewed closely when there are alternative investments for an investor.

Hello! I'm new to the investing world, and was wondering about different ways to cover yourself if things go wrong - specifically, if you can't find a tenant, and are unable to pay the loan on a property you haven'...

Especially when you gave them an alternative.

I get his point of view.My opinion that site has many great points on Lease Option alternatives, LLC formation and asset protection.I also like his discussions on wraps and ROFRs.You live in TX, have your attorney look it over.

@Joe Boggin,Please Seek Legal Professional AdviceThis is a situation where you should not guess or seek unprofessional advice and guesses.Seeking advice from an attorney in the area where the property is located can be a wise and very economical decision considering the alternative.

I'm not sure if this is possible but if possible it should be another alternative to filter out all wannabes.

@Linda ArfiyantiWelcome.I will offer a third alternative the cash does not have to be yours you could work with private money and share the performance.Good luckPaul

It seems to me that since you are a proven winner with your investors, I would make a compelling case that they should get less of a cut not more unless they were contributing some other service other than money.If some of your investors want a greater return, then a syndication could be an possible alternative but it will require more legal & financial reporting.