A lake town has a much lower chance of this working, but it is still a good metric to consider.

If you are ever up in Chicago I'd be happy to link up as well.Your decision-making skills as a vet/emt will go a long way in real estate.

If so how can I find a good HML in my area?

Your experience with having a home built by a local builder puts you in a good position to understand the process, and it's smart to ask these questions before diving in.Profit Sharing (50/50 Split): Yes, a 50/50 profit-sharing arrangement is fairly common when the investor funds the entire project.

Hi there from another Pittsburgher,Yes you'll want to get an appraisal done now, specifically so you can figure out what your stepped up basis is and then that way your brothers and you know you all got a fair deal.Second, take a good look at what you need to do to rent it versus what you would like to do. 

Get a good one that you can use over and over again.

I was an active investor and not a very good one!

When you contact live and invest to see if they can help, they are nowhere to be found.One of the sales people for the Panama real estate told me Lief gets kick backs for every sale that comes from his live and invest folks like me (he claims he does all the due diligence for us to make sure it's a good investment) but he's probably just making a deal with these developers and ends up the winner and we end up the loser.

Sounds like a good idea.  

Although if a good property they probably would grab it themself.