They don't want to hear any of the bad stuff and they can't hold up to adversity.

NEVER let tenants be responsible for water, because the only person who is impacted if it doesn't get paid is YOU (attached to tax bill).

How did it impact you from a financial perspective?

Does that seriously impact to CapEx reserves?

Besides being not very energy efficient, plexiglass is very impact resistant meaning, in a fire you/the fire department would need to literally knock the window out of the frame to get out/in VS breaking the glass out with a tool/chair.  

Which bank did you suggest that can give loans under llc name without impacting personal credit ?

Plus if she wants to later buy another place, her DTI is impacted from the mortgage, while yours is not, if you ever wanted to buy another place.As mentioned by others, just put it all in writing so the arrangement is clear.Good luck!

(you need to think whats fair to both guys and you don't want to give everything away either).Now for your % of sales profits, the sales price is directly related to:market conditions (uncontrollable) = RISK,Property management results (controllable by the property manager) = RISK to you because YOU are not the manager.It seems logical (to me) without any other information though, that 50% / 50% would be fair here.As far as LLC control regarding decisions 50% / 50% with some method to break a tie vote if that ever happened.There are a lot of other things that come into play in this, and it's best to have an attorney draft up your agreement and walk you through all of the decisions that need to made on this.That's just a quick off the cuff discussion, an illustration of what could be possible, (you really need to figure this out for yourself, and with an attorney, because this is BIG MONEY over time, and also talk to your CPA because the decisions you make could have adverse tax consequences for both of you if your not careful).Good Luck!

Does it impact anything?

But in the spirit of being open-minded, are there some studies out there that show the impact (positive and negative) of real estate investors?